British factories took a dive in April -- the latest negative sign for the UK economy

British industry slowed down markedly in April, according to the latest business surveys just out.

Markit’s purchasing managers’ index (PMI) for the manufacturing sector in April came in at just 51.9, a seven month low.

That’s much worse than what was expected — after a PMI reading of 54.4 for manufacturing last month, analysts were expecting an improvement to 54.6 this month.

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