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U.K. Manufacturing PMI Unexpectedly Improved From Record Low
Monday, 03 November 2008 08:44:42 GMT
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U.K. September manufacturing PMI unexpectedly improved to 41.5, against a market median for 39.9. The September reading was revised up to 41.2 from 41.0. A breakdown of the headline reading showed output, new orders, employment, backlog of work and quantity of purchases all off September's series lows. New export orders fell, however, while, both input and output prices slipped. Overall, a very weak figure, which emphasises the outlook for a Britain recession this year. There is little sight of a let-up for the sector at the moment, even with the recent sharp Sterling depreciation.
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