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British manufacturing PMI slides to three-month low

Xinhua, October 2, 2015 Adjust font size:

The British manufacturing Purchasing Manager Index (PMI), a gauge of industry activities, eased to 51.5 in September from a revised reading of 51.6 in August, survey provider Markit released on Thursday.

The performance of the British manufacturing sector remained lackluster in September, rounding off one of its weakest quarters during the past two years.

Data showed that in September, the consumer goods sector saw a substantial output growth slowdown, the intermediate goods sector gained a solid increase in output, while the investment goods production returned to growth. However, both output and new orders were in the generally subdued trends.

Meanwhile, the trends were filtered through to the labor market, with the manufacturing job losses registered for the first time since April 2013.

The British manufacturing sector remained sluggish at the end of the third quarter, stunned by a triple combination of a sharp slowdown in consumer spending, weak business investment and stagnating export order inflows, said Rob Dobson, senior economist at survey compilers Markit. Endit