Following Friday's downbeat economic review from the CBI, the PMI revealed that the first contraction in the UK manufacturing sector since mid-2009 took place in July.
The Markit/Cips manufacturing purchasing managers’ index (PMI) fell to below 50 in July for the first time since the tough recessionary days of 2009. The result of 49.1 on the PMI reflects predictions made last month that the manufacturing sector is suffering from a decline in confidence after a robust 2010. In addition to this…
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