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Job losses underscore manufacturing gloom

Manufacturing - Activity in Britains factories stagnated in September- SantanderCB

Activity in Britain's factories stagnated in September, in a further indication of the manufacturing sector's troubles. The Markit/CIPS purchasing managers' index, published yesterday, fell to 51.5 last month from a revised 51.6 in August. New order growth slipped to its joint weakest rate in a year, and companies reported the first manufacturing job losses since spring 2013. The domestic market continued to be the main driver of any growth. Rob Dobson, senior economist at Markit, said the job cuts 'send a signal that manufacturers are becoming more cautious about the future, which may lead to a further scaling back of production at some firms in coming months.'

 

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