The seasonally adjusted IHS Markit/CIPS Purchasing Managers’ Index registered 56.3 in October, up from 56.0 in September (revised from the original reading of 55.9). The headline PMI has now signalled expansion for 15 consecutive months. Responses from the latest survey were collected between 12-26 October. UK manufacturing production rose at an identically solid pace to that registered in the prior survey month during October. The expansion was broadbased by sub-sector, with consumer, intermediate and investment goods producers all registering output growth.
UK Manufacturing PMI up to 56.3
The UK manufacturing sector started the final quarter of the year on a solid footing. Production and new order volumes continued to rise at robust rates, as companies benefited from strong domestic market conditions and rising inflows of new export business. Price pressures remained elevated, however, with rates of inflation in input costs and output charges both accelerating and staying well above historical series averages.
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