FLASH: UK industry better than manu’ PMI in 3Q18
- The UK’s manufacturing PMI dipped 1 point to 52.8 in August while the output balance was broadly unchanged at a 17-month low.- Official manufacturing data were far weaker than the PMI in Q2, owing to its April fall. Subsequent recovery makes output growth likely to exceed the surveys in Q3.
- Support from the seasonal normalisation of energy utility output and high hydrocarbon extractions in July should deliver much better Q3 industrial growth.
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