UK Manufacturing Activity Recovers In November

(RTTNews) - The UK manufacturing activity expanded for the first time in over a year in November as the recent downturn in new business intakes halted, final survey data from S&P Global showed Monday.

The final factory Purchasing Managers' Index rose to a 14-month high of 50.2 in November, in line with flash estimate, from 49.7 in October. A score above 50.0 indicates expansion.

The survey was conducted between November 12 and 25, ahead of the Chancellor's budget announcement on November 26.

"The numbers are especially encouraging as this improvement occurred despite November seeing elevated levels of business uncertainty, and in some cases an element of gloom, ahead of the Autumn Budget," S&P Global Market Intelligence Director Rob Dobson said.

"...despite the improvement in the performance of the manufacturing sector, any growth is still worryingly weak," Dobson added.

Data showed that manufacturers benefited from improved domestic demand and a softer contraction in new export work. Business optimism rose to a nine-month high in November.

However, manufacturing job losses were reported for the thirteenth straight month in November.

Input price inflationary pressures weakened for the third straight month. Factory gate selling prices dropped for the first time in over three years data showed.