UK factories keep cutting jobs; US jobless claims fall – business live

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Rolling coverage of the latest economic and financial news, as UK manufacturing recovery continues….but headcounts are still cut

  • Latest: US initial claims drops to 837,000
  • UK factories cut headcount in September
  • More economic pain to come
  • Eurozone unemployment rises
  • Pound volatile amid Brexit twists
  • Introduction: US stimulus hopes lift markets

3.21pm BST

Just in: America’s manufacturing posted solid growth last month, two rival surveys have showed.

The Institute of Supply Management’s monthly factory PMI has dropped to 55.4 for September, from 56.0 in August. That shows pretty decent expansion, although slightly slower than a month ago.

*US ISM MANUFACTURING PMI FALLS FROM 56.0 TO 55.4 IN SEPTEMBER; EST. 56.4 pic.twitter.com/MSNx5IDixv

3.14pm BST

Ah… perhaps we won’t get a stimulus deal today after all:

NEW — @SpeakerPelosi sounded VERY skeptical about a deal with @stevenmnuchin1 just now on a Dem whip call

Said Republicans and democrats don’t share the same values. She cited the child income tax credit. Dems have gone down significantly and republicans are at 0, she said.

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