Economic Buzz: UK manufacturing activity worsens further in August

The United Kingdom's manufacturing activity worsened further in August, according to an S&P Global report released on Tuesday. The Manufacturing Purchasing Managers' Index (PMI) stood at 51.7, down from July's 51.9, but slightly above estimates.

The report showed that the output growth rate eased to its weakest level since April, and stocks of purchases decreased for the third consecutive month. New orders growth also weakened in August. However, business confidence hit a six-month high in the reported month.

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