
Manufacturers ended 2011 with their worst quarter since Britain was in the grip of recession, although the pace of contraction slowed in December. The closely watched Markit Purchasing Managers Index survey, which asks manufacturers about their output and order books, showed a reading of 49.6 last month — an improvement on the 47.7 recorded in
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TimWorstall on 4th Jan 2012 (via timworstall.com)