Markit/Cips UK manufacturing PMI report shows export and domestic orders picking up,confounding economists’ expectationsBritish manufacturers enjoyed a recovery in output and new orders last month, according to a survey that will raise hopes the sector is finally shrugging off its recession.
Manufacturers notched up the fastest growth in production for 16 months, or according to the latest Markit/Cips UK manufacturing PMI. The report defied economists’ expectations for a drop and instead jumped to 55.5 in October from an upwardly revised 51.8 in September. The consensus forecast in a Reuters poll of economists was for a 51.3 reading – barely above 50,the mark that separates growth from contraction. Related: Surprise manufacturing surge is probably more blip than boom Related: UK factory growth hits 16-month tall, but China shrinks again - trade live Continue reading...
Source: theguardian.com