It seems like the end of 2011 shows a bit of stability in British manufacturing. U.K. Manufacturing PMI improved in December after Chinese and German orders increased, but index reminded still in contracted area.
According to Markit Economics, PMI rose to 49.6 from 47.7 in November. The experts estimated decline for index to 47.3 in December.
British pound held steady against U.S. dollar, with GBP/USD at 1.5570.
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