UK Private Sector Activity Climbs to Three-Month High

Source: IHS Markit

The private sector in the United Kingdom grew by a three-month high in October, backed by the growth of service providers during the period. EWU is up 0.06% premarket.

• The headline seasonally adjusted IHS Markit/CIPS Flash UK Composite Output Index rose to 56.8 from 54.9, the highest since July.
• The UK Services Business Activity Index jumped to a three-month high of 58.0, up from 55.4 in September.
• The Manufacturing Output Index slowed to an eight-month low of 50.6 from 52.7 in September, while Manufacturing PMI grew to a two-month high of 57.7.
• The divergent growth trends came amid the ongoing supply shortages on manufacturing companies, with the service sector margins at the highest since February 2009.
• New business volumes expanded by a three-month high amid higher demand and constrained capacity.
• Employment increased sharply amid high customer demand and strong confidence, with job creation close to a record high.