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UK manufacturing activity growth slowed, PMI down to 52.7

Staff writer ▼ | December 2, 2015
UK manufacturing activity growth slowed more than expected in November, data from Markit/CIPS showed.
UK manufacturing
UK Markit/CIPS   The decline driven by a drop in average input costs
The purchasing managers' index fell to 52.7 last month from October's 16-month high of 55.2, missing analysts' forecasts for a reading of 53.6.

A reading above 50 signals an expansion in the sector while a level below that indicates a contraction.

The decline was driven by a drop in average input costs and factory gate selling prices. Lower input costs were due to falling global commodity prices.

The report added that the rate of deflation in purchasing costs remained among the fastest seen since the survey began almost 24 years ago.