UK October manufacturing PMI shows fastest output growth in two years
EWU•The UK manufacturing PMI rose to 52.8 in October from 51.9 in September, while its output component reached 53.6, the highest since September 2024. Input costs rose at their fastest pace since June.
1. Output growth accelerates
The S&P Global Purchasing Managers’ Index for British manufacturers climbed to a five-month high of 52.8 in October, in line with an earlier flash estimate. The output component rose to 53.6 from 51.5, its highest reading since September 2024, while new-order growth was the strongest since July.
2. Costs and employment
Manufacturers’ input costs rose at their fastest rate since June and at one of the fastest paces since the last major surge in British inflation in 2022. Employment growth halted after six months of sometimes modest expansion, with firms citing high staff costs and rising input prices. The survey was collected from October 12-27, before the government announced a 3.9% rise in the minimum wage for next year.
