Struggling sterling hits UK manufacturing growth
Output in Britain's manufacturing industry eased back last month as firms grappled with sharply higher import costs caused by the Brexit-hit pound.
The closely watched Markit/CIPS UK Manufacturing purchasing managers' index said output hit 53.4 in November, down from 54.2 in October and below economists' expectations of 54.5. A reading above 50 indicates growth.
Growth slowed from September's 27-month high when the industry rebounded from a significant slump in the wake of Britain's vote to leave the EU. However, output and new orders remained solid, with rising consumer demand and business-to-business spending helping manufacturers push ahead.
Sterling's post-Brexit vote fall sparked a rise in new business abroad, with demand increasing from America, mainland Europe and the Middle East. Despite the export boost, the plunging pound remained a thorn in the side of firms.