UK Manufacturing Grinds to a Halt

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The CBI’s latest industrial trend survey, released yesterday, further vindicated the feeling that weakness in the UK manufacturing sector was no longer a temporary phenomenon. Moreover, a surprise spurt in the government’s borrowing, excluding intervention for July, has jeopardised the chances of Britain maintaining its top notch credit rating.

Today’s meeting between the Luxemburg Prime Minister, Jean-Claude Juncker and the Greek Prime Minister, Antonis Samaras, is expected to kick off a series of meetings between the region’s leaders for tackling the debt crisis. Meanwhile, the minutes of the Fed’s latest policy meeting, due later today, is expected to set the stage for the central bank’s annual symposium at Jackson Hole next week.

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UK Manufacturing Grinds to a Halt

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