Economic Indicators

UK factory downturn shows more signs of easing- PMI

2023.12.01 05:25


© Reuters. A worker removes pieces of metal from the galvanising bath inside the factory of Corbetts The Galvanizers in Telford, Britain, June 28, 2022. REUTERS/Phil Noble/File Photo

LONDON (Reuters) – Britain’s manufacturing sector showed further signs that it might be turning a corner in its long-running downturn but companies remained cautious and pushed up their prices, according to a survey published on Friday.

The final reading of the S&P Global/CIPS manufacturing Purchasing Managers’ Index (PMI) improved for a third month in a row to 47.2 in November from 44.8 in October.

The reading was also up from a preliminary November estimate of 46.7 although it remained below the 50.0 growth threshold for a 16th month in a row.

The severity of the downturn eased in output and new orders, the PMI showed.

“Manufacturers nonetheless remained on a cautious footing, with ongoing market uncertainty and the need to control costs leading to job losses, stock depletion and lower purchasing,” S&P Global said.

Input costs fell again but manufacturers increased their selling prices for only the second time in six months – albeit fractionally – as they sought to repair profit margins, it said.

The Bank of England is monitoring price pressures in the economy after keeping interest rates at their 15-year high in September and November and saying that it has not seen enough easing in underlying inflation to think about cutting them.

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 98,562.41 5.90%
ethereum
Ethereum (ETH) $ 3,491.75 5.17%
tether
Tether (USDT) $ 0.999733 0.16%
xrp
XRP (XRP) $ 2.33 7.67%
bnb
BNB (BNB) $ 694.47 2.02%
solana
Solana (SOL) $ 196.00 5.98%
dogecoin
Dogecoin (DOGE) $ 0.334908 7.75%
usd-coin
USDC (USDC) $ 0.999775 0.00%
staked-ether
Lido Staked Ether (STETH) $ 3,486.56 5.33%
cardano
Cardano (ADA) $ 0.93569 6.44%
tron
TRON (TRX) $ 0.257613 3.15%
avalanche-2
Avalanche (AVAX) $ 41.21 11.92%
chainlink
Chainlink (LINK) $ 24.74 10.28%
the-open-network
Toncoin (TON) $ 5.77 5.06%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,147.05 4.92%
shiba-inu
Shiba Inu (SHIB) $ 0.000023 6.52%
sui
Sui (SUI) $ 4.65 9.00%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 98,136.29 6.08%
stellar
Stellar (XLM) $ 0.403921 14.25%
hedera-hashgraph
Hedera (HBAR) $ 0.322328 20.36%
polkadot
Polkadot (DOT) $ 7.53 7.91%
hyperliquid
Hyperliquid (HYPE) $ 31.08 16.21%
weth
WETH (WETH) $ 3,492.12 5.11%
bitcoin-cash
Bitcoin Cash (BCH) $ 474.91 7.29%
leo-token
LEO Token (LEO) $ 9.44 1.74%
uniswap
Uniswap (UNI) $ 14.53 7.21%
litecoin
Litecoin (LTC) $ 109.14 7.38%
pepe
Pepe (PEPE) $ 0.000019 8.61%
bitget-token
Bitget Token (BGB) $ 4.91 21.86%
near
NEAR Protocol (NEAR) $ 5.56 8.98%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,689.36 5.25%
ethena-usde
Ethena USDe (USDE) $ 0.999002 0.11%
aave
Aave (AAVE) $ 375.53 6.36%
aptos
Aptos (APT) $ 9.75 5.78%
usds
USDS (USDS) $ 1.00 0.49%
internet-computer
Internet Computer (ICP) $ 11.20 11.35%
crypto-com-chain
Cronos (CRO) $ 0.166335 7.20%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.52811 11.38%
vechain
VeChain (VET) $ 0.053027 15.60%
ethereum-classic
Ethereum Classic (ETC) $ 28.15 7.16%
mantle
Mantle (MNT) $ 1.24 6.08%
render-token
Render (RENDER) $ 7.86 10.54%
bittensor
Bittensor (TAO) $ 497.75 9.58%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.39 9.38%
mantra-dao
MANTRA (OM) $ 3.78 1.49%
whitebit
WhiteBIT Coin (WBT) $ 24.91 2.61%
monero
Monero (XMR) $ 191.65 1.24%
arbitrum
Arbitrum (ARB) $ 0.820817 7.92%
dai
Dai (DAI) $ 1.00 0.09%
filecoin
Filecoin (FIL) $ 5.47 11.45%