UK Manufacturing PMI Rises to 53.1 in November By Investing.com

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© Reuters.


© Reuters.

Investing.com – Activity in the UK manufacturing sector accelerated last month, according to a closely watched business survey released on Monday.

Research firm IHS Markit said its manufacturing purchasing managers’ index rose to in November, compared to forecasts for a reading of 51.6.

The prior month’s reading was 51.1.

The report indicated that the sector’s performance remained “comparatively lackluster” after hitting a 27-month low in October. November’s reading was among the weakest registered over the past two-and-a-half years.

“The November PMI provided a lackluster picture of the UK manufacturing sector, as ongoing global trade tensions and Brexit uncertainty weighed on current business conditions and dampened the outlook for the year ahead,” IHS Markit director Rob Dobson said.

“Although still forecasting growth for the year ahead, manufacturers’ confidence fell to its lowest ebb since August 2016,” he added.

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