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Manufacturing Growth Slows More Than Expected

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Manufacturing growth slows more than expected
11:37, Friday 1 April 2011
Manufacturing growth, which has been the bright spot in the UK economy in recent months, was weaker than expected in March as orders slowed and prices rose to cover rising input costs.
The news sent the pound lower against the dollar and the euro, erasing gains earlier on Friday morning.
The Markit/CIPS manufacturing PMI headline index fell to a five-month low of 57.1 in March from a downwardly revised 60.9 in February. Analysts had expected a more modest easing to 60.6.

Blindingly obvious result IMO--everything else is slowing including consumer demand so why is this news "unexpected?"

Edited by Realistbear

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What I just posted on another thread:

Our output prices (tyre manufacture) are increasing almost monthly and will continue to do so due to high import costs, rubber is at an all time high, combine this with high fuel costs and local raw materials prices also increasing (presumably as a result of the high fuel costs) and not only are our prices rising but profit margins are falling.

Not only that but due to a similar squeeze in haulage industry hauliers are laying up lorries to cut back on fuel and so are using fewer tyres, our orders have plummeted in the last month. Our stock rooms are overflowing now and we have just laid off staff last week. We weathered 2008/09 very well, this so far is much worse than i have ever known it! it's not a good situation.

High inflation is destroying the economy. But ironically Merv may actually be right as high inflation causes a second crash into recession and destroys demand inflation will almost certainly fall considerably. Then Merv can say I told you so! When in reality he caused the bloody mess!

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  • 312 Brexit, House prices and Summer 2020

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