British manufacturing activity rose unexpectedly in December 2012 to increase at the fastest rate since September 2011, according to the latest PMI figures released yesterday.
The Markit/CIPS Manufacturing Purchasing Managers’ Index (PMI) rose to a 15-month high of 51.4 in December 2012 from an upwardly revised 49.2 in November. Britain’s economy was believed to have shrunk shrink 0.1% in the last three months of 2012. But Wednesday’s figures boost prospects that the economy may have avoided slipping into its third period of contraction since…
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