Manufacturing output in August fell to its lowest level in over two years, according to the Markit/CIPS manufacturing purchasing managers’ index.
The PMI survey, based on quizzing the purchasing managers at more than 600 companies, fell to 49 last month. Below 50 indicates that the sector is contracting. Exports, especially new business targeting export markets, fell at its fastest rate since May 2009. For most of 2011 exports have been seen as the market segment driving…
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