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UK DATA: A beat for the UK PMI manufacturing but the details don't look great
still with stock building helping buoy the number.
Highlights from the press release:
- "Although the contraction was shallower than the prior survey month, levels of
output, new orders, new export business and employment nonetheless fell further"
- "The investment goods sector was by far the weakest performer, seeing the
steepest drops in both output and new business" largely due to uncertainty.
- "The consumer goods sector was the only category to see output rise in
- "Business optimism remained at a subdued level in September, despite improving
from the series-record low registered in the prior survey month"
- "The ongoing weakness exhibited by manufacturing filtered through to the
labour market, with staffing levels reduced at the fastest pace since February