U.K. Manufacturing Activity Contracts At Slower Pace

U.K. Manufacturing Activity Contracts At Slower Pace


The downturn in the U.K. manufacturing sector showed signs of easing in August, survey results from Markit Economics showed Monday.
The Markit/Chartered Institute of Purchasing & Supply Purchasing Manager's Index rose more than expected to 49.5 from 45.2 in July. Economists had forecast the index to rise to 46.3.
The reading is only slightly below the 50.0 mark that separates expansion from contraction.
"The marked easing in the rate of contraction at UK manufacturers is heartening, if only because last month's steep pace of decline wasn't repeated," Rob Dobson, senior economist at Markit said.
"The performance of the sector is therefore likely to remain subdued and volatile until underlying structural imbalances are resolved," Dobson added.


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