The UK manufacturing sector growth strengthened in November before the end of the Brexit transition period, final data from IHS Markit showed Tuesday.
The IHS Markit/Chartered Institute of Procurement & Supply factory Purchasing Managers’ Index rose to a 35-month high of 55.6 in November from 53.7 in October. The flash reading was 55.2.
Production increased again in November driven by the re-opening of factories following the Covid-19 closures earlier in the year and improving demand.
Whether the upturn of manufacturing production can be sustained into the new year is highly uncertain, especially once the temporary boosts from Brexit purchasing and stockbuilding wane, Rob Dobson, director at IHS Markit, said.
Incoming new business continued to rise, in part boosted by EU clients bringing forward purchases before the Brexit transition period ends.
Further, the survey showed that input buying volumes increased to the greatest extent since March 2019, mainly to achieve the steepest growth in stocks of purchases for over a year.
Despite business optimism about the year ahead rising to a six-year high, manufacturing job losses were recorded for the tenth consecutive month in November.
Input cost inflation accelerated to a two-year high in November. Companies responded by raising their average selling prices to the greatest extent in the year so far.
The material has been provided by InstaForex Company – www.instaforex.com
🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.
As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.