–UK Sep CIPS Manufacturing PMI Rises To 51.1 In September – Markit
LONDON (MNI) – The UK manufacturing Purchasing Managers Index rose
unexpectedly in September but failed to recapture the strong growth seen
at the start of the quarter, according to the latest Markit/Chartered
Institute of Purchasing and Supply survey, published by Reuters.
The headline manufacturing PMI indicator inched up to 51.1, even up
from the upwardly revised 49.4 seen in August.
But George Buckley, Chief UK Economist at Deutsche Bank said that
although the headline index showed that the sector had recovered some of
its recent losses, he was more concerned about the prospect for exports.
CIPS/Markit reported that new export orders fell to 45.0 from 46.9
in August, its lowest level since May 2009.
“The slowing global growth outlook is clearly taking its toll on
the export sector, though domestic orders look to have compensated for
this in September. This survey suggests against an early BOE (move) on
Thursday, and we thereby maintain our view of more QE next month. But
the services survey on Wednesday could be more important,” he said.
–London newsroom: +44 207 862 7492; email:ukeditorial@marketnews.com
[TOPICS: MABDS$,M$B$$$,MT$$$$]
