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Manufacturing output growth tempers

Manufacturing output growth tempers

There has been no shortage of comment in the financial press about the unprecedented bull run in the US equity market, but UK equities have also been on a lengthy tear, although the economic justification for outperformance in either case is rather elusive – some might venture ‘illusory’. It is true, however, that in the case of UK equities, valuations aren’t quite so stretched as the benchmarks across the water, although that largely reflects the preponderance of highly rated ‘tech’ plays in US indices.

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