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Sunday 09th of January 2011
October 1, 2010    

UK manufacturing activity continues to slow in September

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by Kay Murchie
”UK

The Chartered Institute of Purchasing and Supply (CIPS)/Markit manufacturing purchasing managers’ index (PMI) has today revealed UK manufacturing activity continued to slow in September.

The closely-watched CIPS/Markit manufacturing PMI slid to a 10-month low of 53.4 in September, down from a revised 53.7 in August.

The reading represented the lowest since November 2009 and fell short of expectations of a level of 53.8.

However, the sector has now expanded for 14 months and it continues to be above the crucial 50 mark, which indicates expansion.

Commenting on the figures, Rob Dobson, Senior Economist at Markit, said: “Some reassurance can be gained from the fact that growth has merely slowed from an exceptionally strong rate in the first half of 2010.”

In the meantime, the new orders index improved by nearly two points, but the export orders index dipped below the 50 mark, to show foreign demand weakening for the first time in over a year.

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