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12/1/2021, 10:31 AM (Source: TeleTrader)
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UK manufacturing activity at 3-month high in November

The growth in the United Kingdom's manufacturing sector accelerated in November, IHS Markit reported on Wednesday.

The UK IHS Markit/CIPS Purchasing Managers’ Index (PMI) stood at 58.1 in November, up from 57.8 recorded a month earlier. However, the figure was slightly lowered from the preliminary estimate for November of 58.2.

"Although November saw rates of expansion in output and new orders gain some traction, growth remains lackluster compared to the first half of the year," Rob Dobson, director at IHS Markit, stated. "Manufacturers are facing a challenging backdrop, with rising supply chain disruptions, staff shortages and inflationary pressures stifling growth while ongoing difficulties caused by Brexit and logistical headaches restrict opportunities to expand into overseas markets," he added.

Baha Breaking the News (BBN) / NP