Is UK manufacturing in decline, booming or eking out steady growth?

Recent months have seen a variety of indicators on the health of the manufacturing economy in mid-2017, ranging from the CBI survey showing the fastest output growth for 20 years to Office for National Statistics data depicting one of the steepest declines seen since the global financial crisis. The truth most likely lies somewhere in the middle, with PMI data registering steady, albeit slowing, expansion in recent months.

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