News Worms
News Worms


United Kingdom manufacturing 'shifted up a gear' in November

United Kingdom manufacturing 'shifted up a gear' in November

China's official manufacturing purchasing managers index (PMI) came in at 51.8 in November, accelerating from 51.6 in the previous month, according to the National Bureau of Statistics (NBS), which released the data jointly with government-linked industry group the China Federation of Logistics and Purchasing. A PMI score of above 50.0 indicates economic growth.

"The economy remains in a sweet spot - with policy makers facing little trade-off between the conflicting objectives of growth and deleveraging", Orlik said.

According to the latest survey results, the UK's manufacturers have had their best month since 2013 in November.

Equipment manufacturing and high-tech manufacturing continued robust growth, with the sub-indices coming in at 52.9 and 53.2 respectively, suggesting improved industrial structure.

The pound's weakness against the euro helped to drive a rush of new orders, which grew at the steepest rate since August 1994, boosting output and employment rates.

Samuel Tombs, chief United Kingdom economist at Pantheon Macroeconomics, said: "UK manufacturers are being swept along by the Eurozone's resurgence - the single currency area's PMI increased to 60.1, from 58.5 in October - but remain cautious about the outlook". Cost inflation surged to a 17-month high and output price inflation was the strongest since February.

"For the most part, the manufacturing sector remained stable in November, although some signs of weakness emerged", said Zhengsheng Zhong, director of macroeconomic analysis at CEBM Group.

Output expectations eased to a four-month low in November, but remained strong overall.

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