UK manufacturing PMI hits four-month high in September

  • by Ahmed Mamdouh
  • October 1, 2018, 9:11 AM
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U.K. manufacturing sector showed an acceleration in the pace of expansion in September to the highest level in four months, underpinned by solid domestic demand.

Manufacturing Purchasing Managers’ Index scored 53.8 last month from an upwardly revised of 53.0. Analysts had predicted a reading of 52.6.

“Despite these causes for short-term optimism, conditions in manufacturing are still relatively lackluster overall,” said Markit director Rob Dobson, blaming the slowdown in the global economy and worries over Britain’s exit from the EU.

As of 09:08 GMT, the British pound traded slightly higher at $1.3054, snapping its early gains when it fell to a low of $1.3022.

Later in the week, eyes will focus on U.K. services and construction PMI figures to get a complete picture about the health of the economy in the third quarter.

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