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UK Manufacturing Growth Slows More Than Expected


UK manufacturing growth slowed more-than-expected in January to its lowest level in three months, survey data from IHS Markit showed on Friday.

The IHS Markit/CIPS Purchasing Managers' Index for manufacturing fell to 52.8 from 54.2 in December. Economists had forecast a score of 53.5.

A PMI reading above 50 suggests growth in the sector. The latest reading was the second-weakest since July 2016, which was the first month after the Brexit referendum.

The survey showed that manufacturers boosted their stockpile of inputs at a record rate as they prepare for Brexit due on March 29.

Employment decreased for only the second time in the past 30 months.

Business sentiment fell to a 30-month low as the Brexit uncertainty, the exchange rate and signs of a European economic slowdown weighed on sentiment.

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