10/3, 10:30 AM (Source: TeleTrader)
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UK manufacturing downturn eases in Sept.

United Kingdom's Manufacturing Purchasing Managers' Index (PMI) stood at 48.4 in September, representing an increase of 1.1 index points compared to the previous month, but a 0.1 point decline from the preliminary figure, according to the report published by the S&P Global and the Chartered Institute of Purchasing & Supply (CIPS) on Monday. September was the third consecutive month of the index remaining under the 50-point no-change threshold, with contractions recorded in production, new orders and exports.

"There was also less positive news on the price front, with rates of inflation in input costs and selling prices both picking up in September, linked in part to import costs rising due to the weaker pound. With existing headwinds from the cost-of-living crisis likely to be exacerbated by the current volatility in financial markets, growing economic uncertainty and further increases in borrowing rates, the industrial sector is likely to remain in the doldrums during the coming quarter to add to deepening recession risks," S&P Global Market Intelligence Director Rob Dobson noted in the report.

Baha Breaking News (BBN) / MS