U.K. Sep. manufacturing PMI slips to 10-month low

Discussion in 'Economics' started by ASusilovic, Oct 1, 2010.

  1. LONDON (MarketWatch) -- Activity in Britain's manufacturing sector grew at its slowest pace in 10 months in September, according to the Markit/CIPS manufacturing purchasing managers index released Friday. The index fell to 53.4, down from a revised 53.7 in August. Economists had forecast a reading of 53.8. A figure of more than 50 indicates expansion, while a reading of less than 50 signals contraction. "The investment and consumer goods sectors were the main drags on manufacturing growth in September, and producers will be closely monitoring sentiment in these areas in light of the forthcoming government spending review and the run-up to Christmas," said David Noble, chief executive of the Chartered Institute of Purchasing and Supply.