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UK factory growth rises in October

by ChemOrbis Editorial Team -
  • 04/11/2014 (15:35)
UK manufacturing grew more than expected in October, according to data released by Markit Economics. The company’s Purchasing Managers’ Index (PMI) for UK manufacturing climbed to a reading of 53.2 from 51.5 posted in September. Initial estimates in a survey by Bloomberg called for a decline to 51.4. A reading above 50 indicates an expansion.

The increase in the country’s manufacturing was attributed to growing domestic demand. A measure for the country’s new orders rose to 54.6 from 50.3 recorded in the previous month. However, an index for new export orders fell for the second consecutive month because of near-stagnation in the eurozone economy.
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