UK factory output falls at fastest rate since February amid tax rise fears
by Heather Stewart Economics editor from on (#6T9KX)
Pound drops to nine-month low against dollar after PMI for December signals further contraction in manufacturing
Manufacturers in the UK have cut back output at the fastest rate in 11 months, compounding the gloomy picture for the British economy, according to a closely watched survey.
The purchasing managers' index (PMI) for manufacturing fell in December to 47, down from 48 in November - its weakest reading since February. Any reading below 50 signals a contraction.
Continue reading...