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Scandinavia Today / Europe
Depressing British purchasing manager's index signs worrying economic outlook
Thursday, 01 November 2012
The UK industry's purchasing managers' index was quoted to have hit at
47.5 in October, down from a revised 48.1 the previous month.
Analysts had expected, on an index of 48.0 according to Bloomberg News
forecast survey. A value of 50 indicates that activity in the
manufacturing sector is on the increase.
Coming from the heels of a recent report, which showed a UK economic
growth that pushed the country out of the double dip recession it had
stayed there for a while, the recent report confirms analysts
perception that the recent economic growth should be treat with caution.
On the whole, reports hold that the downturn in British manufacturing
worsened in the last month, driven by lower orders to the companies and
rising at a faster pace.
The PMI data showed that manufacturers cut production for a fourth
month in a row and new orders fell at a faster rate than in September
as export demand fell.
by Scancomark.com Team