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1 Nov 2019

UPDATE 1-UK manufacturing decline slows after new Brexit stockpiling rush -PMI

Author: admintech | Filed under: World

UPDATE 1-UK manufacturing decline slows after new Brexit stockpiling rush -PMIA renewed rush to stockpile ahead of another aborted Brexit deadline limited losses for British manufacturers last month, though not by enough to prevent a sixth month of contraction, a survey showed on Friday. The IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) rose to 49.6 from 48.3 in September, its highest level since April and topping all forecasts in a Reuters poll of economists that had pointed to a reading of 48.1. October’s PMI was flattered by manufacturers building stocks ahead of the Oct. 31 date for Brexit that was superseded this week by a Jan. 31 deadline, survey compiler IHS Markit said.