Manufacturing in the United Kingdom climbed to a three-month high in November, as output grew for the 18th straight month.
Source: IHS Markit
EWU is up 1.53% premarket.
The seasonally adjusted IHS Markit/CIPS Purchasing Managers’ Index jumped to 58.1 in November from 57.8 in October, marking the best performance in three months as all components posted growth.
Output rose for the 18th straight month, posting a slightly faster rate from the eight-month low recorded in October. Firms saw higher new work intakes, specifically from the domestic market.
Inflows of new business increased for the 10th straight month, on the back of stronger market conditions in the United Kingdom, but export orders declined for the third straight month.
Purchasing activity rose for the 10th straight month, reflecting higher production needs, safety stock building, and efforts to reduce supply chain delays. Business optimism also grew to a three-month high.
IHS Markit Director Rob Dobson flagged that the latest figures indicate the vulnerability of the industry to any new headwinds, such as the Omicron variant.