U.K. Manufacturing Grows at Slowest Pace in Over Two Years

U.K. manufacturing growth unexpectedly slowed last month, posting its weakest performance in more than two years as demand in Europe faltered.

A Purchasing Managers’ Index dropped to 51.4 from 51.9 in May, Markit Economics said Wednesday. Economists in a Bloomberg survey had forecast an increase to of 52.5. A reading above 50 indicates expansion. While total new orders rose, export orders fell for a third month.