Week in Review - 7th October, 2011

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↑ Manufacturing PMIThe Manufacturing PMI returned to positive territory in September, rising to 51.1 after two months below the 50-level associated with contraction. New employment and new export orders fell, though domestic orders strengthened.
↓ GDP growthThe ONS revised down its figure for GDP growth in 2011 q2 from 0.2% to 0.1%. The revisions now show that during the recession GDP fell by 7.1% and is currently 4.6% below its pre-recession peak.
↑ Business Investment ONS figures showed that total business investment rose 11.3% in the second quarter and manufacturing investment rose by 13.4%.
↓ Net tradeThe deficit in net trade was £4.1bn in 2011 q2, compared with a deficit in net trade of £3.1bn in 2011 q1.
↑ MPC decisionThe MPC announced its decision to extend the asset purchase programme by £75bn to a total of £275bn. The base rate was held at 0.5%
↑ Producer pricesThe cost of inputs rose 17.5% in the year to September 2011. Output prices rose by 6.3% over the same period which was the fastest rate since October 2008.
The week ahead
Tue 11th: UK Trade
Wed 12th: Labour Market Statistics

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