Manufacturing sector sees first growth in five months as it continues to battle with supply issues
The closely watched IHS Markit/CIPS Purchasing Managers’ Index (PMI) returned a reading of 57.8 for October, up from 57.1 in September, but still below the 60.3 score recorded in August.
Any reading above 50 implies growth.
Rob Dobson, director at IHS Markit, said: “Growth of UK manufacturing production slowed further during October, with output volumes rising only slightly and at the weakest pace for eight months.
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Hide Ad“Strained global supply chains are disrupting production schedules, while staff shortages and declining intakes of new export work are also stymieing the upturn.
“This low-growth environment is occurring in tandem with a severe upshot in inflationary pressures, with manufacturers reporting both a near-record increase in input costs and record rise in selling prices.”