UK industry shows signs of life as PMI decline slows

The closely watched manufacturing Purchasing Managers' Index (PMI), which combines orders and output levels in British factories, jumped to 39.1 in March, up from 34.9 in February. Some economists said it could prove to be the turning point in the UK recession. It was the highest level since the collapse of Lehman Brothers in September last year, which triggered a meltdown in financial markets, th