Factories booming after strong output
Britain's factories are "booming again" after output grew at its strongest pace for nearly two decades in August. The figures further add to hopes that the UK is on track to achieve sustainable recovery and grow its once powerful industrial base. Activity rose to a reading of 57.2, its best since February 2011, in the latest Markit/CIPS purchasing managers' index (PMI) . The 50 level separates growth from contraction. Output rose at the fastest pace since July 1994 while new orders increased at their strongest pace since August 1994.
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