Economics
U.K. Manufacturing Growth Slows to 2-Year Low as Exports Falter
- Gauge of new export orders contracts for first time since 2016
- Optimism among firms slips to 22-month low in August
This article is for subscribers only.
U.K. manufacturing growth unexpectedly slowed to the weakest in two years last month as export orders contracted amid a weakening of the global economy.
IHS Markit’s Purchasing Managers’ Index fell to 52.8 in August, the firm said Monday, down from 53.8 a month earlier, and below the 53.9 forecast by economists. A gauge of new orders for exports fell below the 50 level that indicates expansion for the first time since April 2016.