British manufacturers reported robust growth last month and rising inflation pressures, adding to the chances that the Bank of England will raise interest rates on Thursday for the first time in a decade.The IHS Markit/CIPS manufacturing purchasing managers’ index (PMI) rose to 56.3 in October from an upwardly revised 56.0 in September. This was above its long-run average and bucking economists’ forecasts in a Reuters poll for a slight fall.UK manufacturing made an impressive start to the final quarter of 2017 as increased inflows of new work encouraged firms to ramp up production once again,” said Rob Dobson, a senior economist at IHS Markit, which compiled the data.
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