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- Markit/Chartered Institute of Procurement & Supply manufacturing PMI for the U.K. declines to 51.5 in September
Markit/Chartered Institute of Procurement & Supply manufacturing PMI for the U.K. declines to 51.5 in September
Markit Economics released its manufacturing purchasing managers' index (PMI) for the U.K. on Thursday. The Markit/Chartered Institute of Procurement & Supply manufacturing PMI for the U.K. decreased to 51.5 in September from 51.6 in August, beating expectations for a fall to 51.3. August's figure was revised up from 51.5.
A reading above 50 indicates expansion.
The decline was driven by a drop in input prices.
Employment also declined in September.
"The UK manufacturing sector remained sluggish at the end of the third quarter, stunned by a triple combination of a sharp slowdown in consumer spending, weak business investment and stagnating export order inflows. The survey is still broadly consistent with stagnation, or even a mild downturn, when compared to official data," Markit's Senior Economist Rob Dobson said.
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