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The end of the third quarter saw the downturn at UK manufacturers continue - output, new orders and employment were all cut back further, amid weaker intakes of new work from both domestic and overseas clients.
UK PMI Manufacturing experienced a slight uptick, finalized 44.3 in September from the previous month's 39-month low of 43.0. However, despite this marginal improvement, an in-depth examination of the five sub-indices of the PMI - new orders, output, employment, stocks of purchases, and supplier delivery times - revealed a consistent downturn in the sector's performance.
Dollar is experiencing a broad rise today, buoyed by an uptick in treasury yields and risk aversion sentiments. The US Congress averted potential economic turbulence by passing a stopgap funding bill over the weekend, ensuring the federal government doesn't enter its fourth partial shutdown within a decade. However, this positive momentum in US futures was fleeting. This strengthening of Dollar is mirrored by decline in Gold and Silver, both plunging to their lowest levels since March.
London's stock markets faced significant downturns at the close of trade on Monday, with both the FTSE 100 and the FTSE 250 indices ending the session in negative territory.
The UK’s troubled manufacturing sector shrank at its fastest rate since the early days of the Covid-19 pandemic last month, new data suggests.According to the influential S&P Global/CIPS UK Manufacturing PMI survey the sector has now shrunk for 13 ...