UK Manufacturing Increases in November

December 1, 2014 Share Print 0

UK manufacturing activity increased in November after solid domestic demand offset weaker orders from overseas markets, a survey has indicated.

The Markit/CIPS Purchasing Managers’ Index rose to 53.5 from 53.3 in October. A figure above 50 implies that the sector is growing.

The reading was the highest for four months and adds to the picture of a stronger economy.

The rate of job creation reached a four-month high, the survey found.

“In the lead-up to the chancellor’s Autumn Statement, the November PMI survey shows the UK manufacturing sector continuing its solid expansion,” said Rob Dobson, senior economist at Markit.

“Despite easing from the stellar pace set in the first half of the year, growth is still coming from a broad-base that will aid its sustainability.”

via BBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.