In the largest move since 2008Q1, manufacturing business confidence plunged 18 index points to 29 during the latest survey. This is the lowest level of manufacturing business confidence in 2 years. Although there are some specific trends that warrant concern that the slow recovery in the manufacturing sector might be interrupted, the drop in confidence is somewhat sharper than one would expect based on the survey results relating to activity levels and is likely also linked to the recent uptick in global and domestic economic uncertainty...

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