British manufacturing bounced back in August
Weaker sterling biggest factor in return to growth
New figures show that British factory activity reached a 10-month high in August as a weaker sterling helped manufacturing bounce back from a post-Brexit slump.
IHS Markit said its Purchasing Managers Index, which dropped below the key 50 level in July, jumped by a record to 53.3. That was far better than economists had forecast, with the median estimate for a reading of 49 in a Bloomberg survey.
“Companies reported that work that had been postponed during July...
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