UK manufacturing growth slows

Britain's manufacturing sector expanded at its slowest pace in almost two years last month, according to new figures.

Factories cut back on hiring new staff and there was a sharp fall in new orders, reinforcing concerns about the health of the financial recovery.

Manufacturing now makes up about 14% of the British economy and the authorities had been hoping strong, export-driven manufacturing would support weaker growth elsewhere.

James Knightley from ING pointed out that other surveys had shown exports performing better.

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