UK manufacturing shrinks at fastest pace in over 3 years
July post-Brexit vote data could add impetus for Bank of England rate cut this week; surveys point to higher chance of a UK recession ahead
London
BRITISH manufacturing shrank at its fastest pace in more than three years in July and business confidence tumbled following the "Brexit" vote, according to surveys that show an increased chance of a recession ahead.
The news will give more impetus for the Bank of England (BOE) to cut interest rates this week.
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