Week in Review - 5th August, 2011

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↓ Manufacturing PMIThe manufacturing PMI fell to 49.1. At a level below 50 the PMI is associated with contraction. Although companies reported output growth, new orders started to fall back, largely as a result of domestic weakness.
↔ MPC Rate decisionThe Monetary Policy Committee once again voted to keep the Bank Rate at 0.5% and the size of the Asset Purchase Programme at £200bn.
↑ Producer Price IndexInput prices for manufacturers rose by 18.5% in the year to July, driven largely by oil prices. This was the fastest rise in input prices since September 2008. Output prices rose by 5.9% in the year to July, up from 5.7% in the year to June.
The week ahead
Tue 9th: Index of Production; UK Trade;
Wed 10th: Inflation Report

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