UK manufacturing shrank more than initially forecast in July, suffering its biggest drop in more than three years.
A purchasing managers’ index slumped to 48.2, below the one-off flash reading of 49.1, Markit Economics said. The index has only fallen below the 50 mark – which separates expansion from contraction – one other time since early 2013. The index was at 52.4 in June.
“The weak numbers provide powerful arguments for swift policy action,” said Rob Dobson, an economist...
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