Thursday July 9, 2020

British manufacturing contracts reviving triple-dip concerns

British manufacturing unexpectedly shrank in February as new orders plunged, reviving concerns that the economy may slip into a triple-dip recession.

1st March, 2013
British manufacturing contracted in February

British manufacturing unexpectedly shrank in February as new orders plunged, reviving concerns that the economy may slip into a triple-dip recession.

A gauge of factory activity plunged to 47.9, compared with a revised 50.5 in January, Markit Economics and the Chartered Institute of Purchasing and Supply said today in London. A reading below 50 indicates contraction. Separate reports today showed euro-area manufacturing shrank last month, while Chinese factory growth weakened.

The British economy contracted in the fourth quarter...

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