(IHS Markit) UK’s manufacturing PMI eased to an expansion of 57.1 in September, lower than 60.3 posted in August.
Fig: UK Manufacturing PMI
The slowdowns in UK manufacturing were fueled by supply chain delays, rising material and labor shortages, and softer new order growth. New export business declined for the first time in eight months.
The rate of job creation was the weakest since January, with small manufacturers reporting declines for the first time in eight months.
UK’s manufacturing production is now up for the sixteenth consecutive time in September. The rate of expansion is the weakest since February and eases for the fourth straight month.
Manufacturers remained optimistic, with over 62% of companies forecasting an increase in output in the next 12 months.
GBPUSD is up +0.36%, FTSE 100 is down -1.03%.
