World Economy

UK Factory Index Slips

UK Factory Index SlipsUK Factory Index Slips

British manufacturing activity expanded at the slowest rate in three months in September, survey figures from the Chartered Institute of Procurement & Supply and Markit Economics showed, NewsNow reported. The report’s factory index slipped to 51.5 from a revised 51.6 in August. Readings above 50 indicate growth. A measure of new orders dropped to match the weakest rate this year. While declining commodity prices are lowering costs for businesses and domestic demand remains robust, a strong currency and cooling Chinese growth are undermining exports. Markit said its index is “broadly consistent with stagnation or even a mild downturn”.