UK manufacturing beats forecasts with strong growth in August

Weak pound reported to have helped competitiveness, but rising raw material prices could cause problems

Britain’s manufacturers increased production at the fastest pace in seven months in August, taking on more workers to keep up with strong domestic and international demand.

The closely watched Markit/Cips UK manufacturing PMI barometer of factory sentiment showed activity jumped to 56.9 last month from 55.3 in July, the second-highest level in more than three years, helped by the weak value of the pound.

Continue reading…

Read full original article »