PARADOXICAL POUND

LIFTED FROM WSJ- SEE REFS Manufacturing Grows, Services Slow Updated October 10 2016 6:40 am BST British manufacturers enjoyed a bounce in the three months after the Brexit vote thanks in part to the weakening pound, but growth in the country’s powerhouse service sector slowed markedly, a survey of over 7,000 businesses showed. The survey by the British Chambers of Commerce, a lobbying group, adds to a mixed picture of the world’s fifth-biggest economy as the Conservative Party prepares to chart the UK’s departure from the European Union. • The balance of manufacturers reporting that export sales grew in the July-September period rose to +17, from +9 in the second quarter.. • The balance of services firms reporting improved domestic sales fell to +9, from +24 the previous quarter. • The balance is an index reflecting the percentage of firms reporting an improvement against those experiencing a decline. While the post-Brexit bounce saw manufacturers increase new hires slightly, new employment in the service sector slowed. Compared with the previous quarter, companies across the two sectors also expect to take on fewer staff next year. Read the full story at WSJ.com city@wsj.com