UK October ultimate manufacturing PMI 49.9 vs. 50.three prelim

• Ultimate Manufacturing PMI 49.9 vs. 50.three anticipated and 51.5 prior.

Key findings:

• Manufacturing PMI at 49.9 in October.
• Decreased new order intakes rein in output progress.
• Enter worth inflation eases sharply.

Remark:

Rob Dobson, Director at S&P World Market Intelligence:

“UK manufacturing began the ultimate quarter of the 12 months
on an unsure footing amid hypothesis on authorities
insurance policies forward of the Funds, which was extensively reported
to have led to a wait-and-see method on funding
and spending. This home headwind, mixed with an
ongoing lack of export enterprise, led to the primary outright
contraction in new work intakes since April.

Output progress
got here near stalling because of this.
The widely lacklustre surroundings was additionally mirrored
within the headline PMI slipping under its impartial 50.zero mark
and enterprise optimism hovering solely barely above
September’s nine-month low.
There was higher information on the value entrance. Enter price
inflation fell to a ten-month low, easing to one of many
best extents within the 33-year survey historical past.

Promoting
worth inflation additionally moderated. This will likely present some
headroom for coverage makers to help progress if demand
weakens.
The November PMI can be particularly keenly anticipated
to see the near-term influence of the Funds on enterprise
circumstances and particularly the impact on confidence.”

This text was written by Giuseppe Dellamotta at www.ubaidahsan.com.



Source link