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UK manufacturing growth slows

4 October 2010
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UK manufacturing growth slowsThere has been a further slowdown in manufacturing growth in the UK during September 2010, new figures show.

According to the latest purchasing managers' index (PMI), expansion dipped from 53.7 in August to 53.4 last month, with any figure above 50 indicative of growth.

However, this was a ten-month low for the PMI, while export orders declined to their lowest point since July last year to stand at 49.28, manufacturing management professionals are advised.

The survey of UK purchasing managers also showed that expansion in the sector has fallen back from a high recorded in March 2010, although new orders improved during the month to September.

Chief economist at IHS Global Insight Howard Archer predicted the CPI would fall back in September as a result of foreign and domestic orders softening and suggested that the weak pound and lean stock levels contributed to strong figures during the first half of the year.

"Going forward, the concern is that manufacturing activity will be increasingly pressurised by tighter fiscal policy increasingly hitting domestic demand, global growth slowing and stock rebuilding winding down," he stated.ADNFCR-3058-ID-800096884-ADNFCR
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