- Providers PMI 51.8 vs 52.4 anticipated and 52.4 prior.
- Manufacturing PMI 50.3 vs 51.4 anticipated and 51.5 prior.
- Composite PMI 51.7 vs 52.6 anticipated and 52.6 prior.
Key Findings:
- Flash UK PMI Composite Output Index(1) at 51.7 (Sep:
52.6). 11-month low. - Flash UK Providers PMI Enterprise Exercise Index(2) at
51.8 (Sep: 52.4). 11-month low. - Flash UK Manufacturing Output Index(3) at 50.9
(Sep: 53.6). 6-month low. - Flash UK Manufacturing PMI(4) at 50.3 (Sep: 51.5).
6-month low.
Remark:
Commenting on the flash PMI information, Chris Williamson,
Chief Enterprise Economist at S&P International Market
Intelligence mentioned:
“Enterprise exercise progress has slumped to its lowest for
practically a yr in October as gloomy authorities rhetoric
and uncertainty forward of the Funds has dampened
enterprise confidence and spending. Firms await
readability on authorities coverage, with conflicts within the Center
East and Ukraine, in addition to the US elections, including to
the nervousness in regards to the financial outlook.
The early PMI information are indicative of the economic system rising
at a meagre 0.1% quarterly price in October, reflecting a
broad-based slowing of enterprise exercise, spending and
demand throughout each manufacturing and providers.
Worryingly, the deterioration in enterprise confidence within the
outlook has additionally prompted corporations to scale back
headcounts for the primary time this yr.
Cleary, the insurance policies introduced within the Funds have the
potential to play a serious function in steering the course of the
economic system within the months forward.
Encouragingly, nevertheless, an extra cooling of enter price
inflation to the bottom for 4 years opens the door for the
Financial institution of England to take a extra aggressive stance in the direction of
reducing rates of interest, ought to the present slowdown
grow to be extra entrenched.”
UK Composite PMI
