–UK Sep CIPS Manufacturing PMI 53.4 Vs 53.7 In Aug – Markit/Reuters
LONDON (MNI) – The pace of growth in UK manufacturing activity
continued to slow in September, falling to a 10 month low, according to
the latest Markit/Chartered Institute of Purchasing and Supply survey,
published by Reuters.
The PMI activity index fell to 53.4 in September from a downwardly
revised 53.7 in August, originally reported at 54.3. The data add to the
mounting evidence that the rate of growth in the UK economy in the third
quarter will be well below that in the second.
While CIPS noted this was the 14th consecutive month in which
manufacturing activity came in above the 50 contraction/expansion level,
the latest run of data do show a clear slowing trend.
“Some reassurance can be gained from the fact that growth has
merely slowed from an exceptionally strong rate in the first half of
2010,” Rob Dobson, Senior Economist at Markit, said.
The 53.4 outturn was in line with the average growth rate seen in
the run up to the financial crisis, Dobson added.
The CIPS survey found new export orders fell a little, and growth
in total new orders was subdued.
–London newsroom 0044 207 862 7491; email:drobinson@marketnews.com
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