October UK Markit/CIPS manufacturing PMI 56.0 vs 56.1 exp
- Prior 56.7. Revised to 56.3.
- Exports 56.5 vs 53.6 prior highest since Feb 2011
- Employment index continues to show growth but has fallen back from September
- New orders still near record highs.
- Purchase price inflation falls slightly
“Despite only accounting for less than 11% of the
economy, the current strength of growth seen in
manufacturing means the sector will still provide a
major boost to the economy in October, boding well
for the strong pace of economic growth we saw in
the second and third quarter being sustained into
the fourth quarter. The survey suggests
manufacturing output is growing at a quarterly rate
of around 1%-1.5%. Said Rob Dobson, Senior economist at Markit