StockMarketWire.com - The UK manufacturing purchasing managers' index fell to a seven-year low of 47.4 in August, according to IHS Markit.

The market had bee expecting the reading to stay steady a 48.0.

'The high levels of economic and political uncertainty pervasive across domestic and global markets continued to weigh heavily on the performance of UK manufacturing during August,' IHS Markit said.

'Output volumes fell as intakes of new work contracted at the fastest pace for over seven years, while business optimism dropped to a series-record low.'

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