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2 Nov 2015
UK manufacturing PMI positively surprises, at 16-month highs
FXStreet (Mumbai) - As reported by Markit, October saw the UK manufacturing sector record its best month of output growth since June 2014, finally emerging from a subdued trend experienced through much of the year-to-date.
The headline seasonally adjusted Markit/CIPS Purchasing Manager’s Index (PMI) rose to a 16-month high of 55.5, a significant improvement on the upwardly revised figure of 51.8 posted in September.
Markit acknowledged that, “October saw solid improvements in the rates of growth in output and new orders, in both cases the sharpest since the middle of last year. The domestic market remained the prime source of new contract wins, while back-to-back increases in new export business were signalled for the first time since the third quarter of 2014.”
The headline seasonally adjusted Markit/CIPS Purchasing Manager’s Index (PMI) rose to a 16-month high of 55.5, a significant improvement on the upwardly revised figure of 51.8 posted in September.
Markit acknowledged that, “October saw solid improvements in the rates of growth in output and new orders, in both cases the sharpest since the middle of last year. The domestic market remained the prime source of new contract wins, while back-to-back increases in new export business were signalled for the first time since the third quarter of 2014.”