U.K. manufacturing PMI rebounds in August

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U.K. manufacturing PMI rebounds in August
from MarketWatch.com - MarketPulse
FRANKFURT (MarketWatch) -- The Markit/CIPS purchasing managers' index, or PMI, for the U.K. manufacturing sector rose to 49.5 in August from 45.2 the previous month, data showed Monday, signaling a substantial easing in the downturn for the sector. A reading of less than 50 indicates a contraction in activity. Economists had forecast an August reading of 45.9. "We can take consolation from August's figures in that they were 'less bad' than the disastrous month before. We have witnessed a return to the status quo of flat growth in a fragile economy," said David Noble, chief executive at the Chartered Institute of Purchasing and Supply.