Source: IHS Markit
Output growth in the United Kingdom posted a slight improvement in October to mark the first acceleration in five months, on improved orders and employment. EWU is up 0.18% premarket.
- The seasonally adjusted IHS Markit/CIPS Purchasing Managers’ Index stood at 57.8 in October, above the 50 threshold that separates expansion from contraction.
- The latest reading is the first acceleration recorded in five months, after being recorded at 57.1 the previous month.
- Manufacturing production posted the slowest growth in eight months, due to supply chain delays and constraints, and staffing issues.
- New export businesses fell slightly for the second straight month, but new order intakes grew overall.
- UK manufacturers were mostly optimistic, with the majority of firms expecting an increase in output in the next year.
- The overall degree of sentiment fell to an eight-month low, due to global and domestic economic conditions, along with COVID-19 and supply issues.
- Input price inflation continued to remain at historic highs, due to higher input prices. Output charges also rose to record-highs.