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BREAKING: UK PMI report below expectations 🔔

10:31 AM 1 November 2024

10:30 AM BST, United Kingdom - PMI Data for October:

  • S&P Global/CIPS UK Manufacturing PMI: actual 49.9; forecast 50.3; previous 51.5;

UK manufacturing began the final quarter facing uncertainty, influenced by speculation over government policies ahead of the Budget, which led to cautious investment and spending. Domestic challenges, along with declining export demand, caused new work intakes to contract for the first time since April, with output growth nearly stalling.

The PMI fell below 50, reflecting a weak environment, though input cost inflation eased significantly, potentially giving policymakers space to support growth if demand falters. The upcoming November PMI will be crucial to gauge the Budget's impact on business confidence.

 

 

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