The Chartered Institute of Purchasing and Supply along with Markit Economics reported the UK purchasing-manager-index (PMI) fell to its lowest level in nine months at 54.3. Missing expectations of 57.0 and declining from July’s (revised) 56.9. While the reading remains comfortably above the key 50 level, indicating that the manufacturing sector is still in expansion the pace has slowed significantly since hitting a multi-year high at 58.0 in May of this year.
Written by Jonathan Granby, DailyFX Research Team
If you wish to contact the author with comments or questions email jgranby@fxcm.com
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