Strong pound holding back UK exports, says key survey
by Larry Elliott Economics editor from on (#G90W)
CIPS/Markit's monthly economic health check shows stagnant manufacturing sector is dependent on UK consumer and could hold back economic growth
The strength of the pound is holding back UK exports and keeping factory output barely above recession levels despite a rise in activity in the eurozone.
The monthly health check from the Chartered Institute of Procurement and Supply/Markit found that buoyant consumer spending helped British industry edge up from a 26-month low in June.
Related: Greece debt crisis: Athens stock market falls 23% as manufacturing plunges - live
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