Sterling slumps as industry grows at slowest pace in two years

Weak domestic demand led to a drop in production and new orders, according to a survey by Markit Economics and the Chartered Institute of Purchasing and Supply. The gauge suggested a decline to 52.1 by its measure, the lowest since September 2009, from a downwardly revised 54.4 in April. Producers of consumer goods and smaller manufacturers were hit hardest, the survey said. The surprise dip in activity caused the pound to tumble almost a cent against the dollar. Sterling was down 0.17% against the Greenback and 0.25% down against the euro at 12.45pm. Chancellor George Osborn...