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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 Team

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