• Friday, August 19, 2022

Business

UK Manufacturing Growth Improves Unexpectedly in September

UK manufacturing production rose for the twenty-sixth successive month in September. (Photo: Jason Alden/Bloomberg via Getty Images).

By: Radhakrishna N S

British factories recorded an unexpected pick up in their activities in September stalling a three-month-long slow growth ahead of Brexit scheduled next year, according to a private data released on Monday (1). The seasonally adjusted IHS Markit/CIPS Purchasing Managers’ Index (PMI) posted 53.8 in September, following an upwardly revised figure of 53.0 in August (originally published as 52.8). The PMI has remained above the neutral 50.0 mark for 26 months. The end of the third quarter saw a mild improvement in the performance of the UK manufacturing sector. Rates of expansion in output and new orders gained traction, while the trend in new export business saw a modest…

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