UK Manufacturing Sector Rose at the Fastest Pace in Two Months in November

Forex News

British manufacturing sector grew at the fastest pace in two months in November, exceeding economists' expectations. UK manufacturing purchasing managers’ index (PMI) rose to 53.1 in November, up from 27-month low of 51.1 in October. The indicator was better than forecasts of 51.6, but was still among the weakest readings registered over the past two-and-a-half years.

While output rebounded last month, the biggest rebound in manufacturing sentiment was because of a noticeable turnaround in the flow of new orders, with the component’s balance rebounded back up the 50-mark to 53.4.

It was also reported, that employment in the UK manufacturing sector increased slightly, but the overall degree of business optimism dipped to a 27-month low, as Brexit uncertainty, exchange rate concerns and a slowing economy weighed on confidence.