EEF comments on today's PMI announcement

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Commenting on today’s PMI announcement, Lee Hopley, Chief Economist at EEF, the manufacturers’ organisation, says:  “December’s PMI reading points to manufacturing ending 2015 with neither a bang nor a whimper. Activity levels appear to have been holding up in line with the long-run average as output and new orders tick over, and no more.

“With the CIPS report confirming our view that manufacturing output is likely to be flat over 2015 as a whole, the question now is whether the sector can regain much needed momentum in 2016. Industry PMI readings from Europe offer a few reasons for optimism that a recovery across the region will finally start to benefit UK exporters, but further weakening in China is likely to be a counteracting force into 2016.”

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