INSTANT VIEW - Manufacturing shrinks at record pace in Sept

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LONDON (Reuters) - The manufacturing sector shrank last month at the fastest rate since records began almost 17 years ago as levels of output, new orders and employment registered unprecedented declines.

The shockingly weak figures will reinforce expectations that Britain has entered its first recession since the early 1990s and boost expectations that interest rates could be cut as soon as next week.

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KEY FIGURES FOR CIPS/MARKIT UK MANUFACTURING PMI SURVEY

Sept Aug Forecast Manufacturing activity 41.0 45.3 45.0

KEY POINTS

- Weakest headline index since series began in Jan 1992. Fifth consecutive month of contraction.

- Weakest output index since series began in Jan 1992