UK Markit Oct mftg PMI SA now out 1 Nov
- 56.0 prev revised up from
GBPUSD currently back up to 1.3308 after dipping from 1.3311 session highs to 1.3283 into the data. EURGBP 0.8742 from 0.8752
The Manufacturing Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in the manufacturing sector. A reading above 50 indicates expansion in the sector; below 50 indicates contraction.
All relative in the UK economy where 80% of GDP comes from the services sector.
- 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.
- The expansion was broad based
by sub-sector, with consumer, intermediate
and investment goods producers all registering
Full release here