UK factory growth stumbles amid trade wars and Brexit uncertainty - business live
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- Introduction: China’s factory PMI has fallen again
- Economists blame trade war
Ouch! Turkey’s factory sector had a torrid time in August, as the country’s currency crisis hurt its economy.
The Turkish manufacturing PMI, just released, fell to just 46.3 last month from 51.0 in July. That drags the sector straight back into contraction.
August was a month of challenging business conditions for manufacturing firms in Istanbul. Weakness of the Turkish lira led to strong inflationary pressures, and contributed to slowdowns in both output and new orders.
Currency weakness did have the effect of helping to support new export orders, which increased fractionally during August.
China isn’t the only country to experience a manufacturing slowdown last month.Continue reading...