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”.
