Final manufacturing PMI revised up to 57.8 points in October, above estimates

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UK manufacturing activity expanded in October, as confirmed by the final report of the IHS Markit on Monday.

The Purchasing Managers Index Seasonally adjusted IHS Markit / CIPS Manufacturing PMI has been revised up from 57.7 to 57.8 in October, exceeding expectations of 57.7.

Key points

The growth of new orders is higher despite the drop in new export jobs.

Sales prices are rising at a record pace.

Rob Dobson, Director of IHS Markit, commented on the survey

“UK manufacturing production growth slowed further during October, with production volumes increasing only slightly and at the weakest pace for eight months. Tight global supply chains are disrupting production calendars, while shortages headcount and declining new export jobs are also hampering the rally. “

“This low-growth environment is occurring alongside a severe pick-up in inflationary pressures, with manufacturers reporting both a near-record rise in input costs and a record rise in sales prices.”

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