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"This [manufacturing] report increases the probability that we will see a negative GDP reading for the fourth quarter"
- James Knightley, an economist at ING Bank
U.K. manufacturing output fell more than expected in October amid deteriorating debt crisis in the region. Factory output decreased 0.7 percent in October from September, said the Office for National Statistics on Wednesday.
The data "are pretty disappointing," said James Knightley, an economist at ING Bank in London. "This report increases the probability that we will see a negative GDP reading for the fourth quarter, but is unlikely to directly impact on the current Bank of England monetary policy meeting."
"Activity has recently shown a few signs of strengthening a little. We expect the market to remain broadly unchanged in terms of both prices and sales over the coming few months as demand and supply conditions alter little."