FX & CFD trading involves significant risk
Markit Economics released its manufacturing purchasing managers' index (PMI) for the U.K. on Monday. The Markit/Chartered Institute of Procurement & Supply manufacturing PMI for the U.K. climbed to 55.5 in October from 51.8 in September, beating expectations for a fall to 51.3. September's figure was revised up from 51.5.
A reading above 50 indicates expansion.
The increase was driven by rises in output and new orders.
"The start of the final quarter saw UK manufacturing spring back into life and record its best month of factory output growth since June 2014. The revival provides a tentative suggestion that the manufacturers are pulling out of their recent funk, having been dogged by recession since the start of the year, and may help boost economic growth in the fourth quarter," Markit's Senior Economist Rob Dobson said.
All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.