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11/1/2021, 10:30 AM (Source: TeleTrader)
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UK manufacturing activity expands in October

The manufacturing activity in the United Kingdom further expanded in October compared to the previous month to surpass market estimates, according to a report published by IHS Markit on Monday.

The seasonally adjusted Purchasing Managers’ Index (PMI) rose to 57.8 last month, marking the first increase in the last five months. However, output growth remained constrained by supply chain issues, staff shortages as well as declining intakes of new export work. Seling prices advanced at a record rate, the report noted.

IHS Markit Director Rob Dobson shared positive sentiment, saying that "a slight improvement in new order growth, led by the domestic market, suggests the trend in demand is stabilizing following its recent slowdown. Businesses also remain relatively optimistic about the year-ahead outlook, with 62% expecting production to be higher."

Baha Breaking News (BBN) / ND