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UK manufacturing PMI falls to three-month low

GBPUSD News by Newsroom on 05:18 August 01, 2018 EST

The UK manufacturing sector grew at the slowest pace in three months in July, according to research firm IHS Markit latest report released on Wednesday. Its manufacturing purchasing managers’ index declined to 54.0, from a downwardly revised 54.3 in the previous month and below forecasts for a reading of 54.2.

The report indicated that the recent soft patch in UK manufacturing continued at the start of the third quarter, which could give the Bank of England some doubts over its decision to raise interest rates.