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UK manufacturing hits three-month low in December

by ChemOrbis Editorial Team -
  • 02/01/2015 (16:09)
According to a preliminary purchasing managers’ index (PMI) compiled by Markit Economics, the UK’s manufacturing activity unexpectedly decreased to a three-month low in December due to weak growth in key overseas markets. Markit’s preliminary PMI declined to 52.5 from the reading of 53.3 reported in November. Any figure above 50 indicates an expansion. Initial estimates called for an increase to 53.6 in a survey conducted by Bloomberg.

In the third quarter of 2014, the UK’s economy grew for the seventh consecutive quarter. The country’s gross domestic product (GDP) rose 2.6% year over year after a downward revision from a previously estimated growth rate of 3%.
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