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British manufacturing shows solid growth

Dec. 2, 2013 at 10:41 AM   |   Comments

LONDON, Dec. 2 (UPI) -- Key indexes of British manufacturing showed production and new orders at or near 19-year highs in November, Markit Economics reported Monday.

"U.K. manufacturing continued to hit the high notes in November," said Rob Dobson, senior economist at

Markit.

The headline manufacturing index, called the purchasing managers index, hit 58.4 in November, up from 56.5 in October, as the sector posted its fastest pace of job creation since May 2011.

With numbers above 50 indicating growth, Markit said the PMI for British manufacturing remained solidly positive, hitting its highest level since February 2011.

While new orders expanded from domestic and foreign sources, "the domestic market remained the prime pillar of new order growth," Markit reported.

In the month, fresh orders from the United States, Germany, France, Ireland, Belgium, Asia and the Middle East expanded, Markit said.

The gains supported the seventh consecutive month of job growth in the manufacturing sector, with the pace of job growth growing to a two-and-a-half year high.

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