FLASH: UK manu’ surveys slow together in Oct-18
- The UK’s manufacturing PMI fell to 51.1 in Oct-18, which is its lowest level since it rebounded from the referendum result in 2016. This decline left the UK’s PMI as weak as the euro area’s and the CBI manufacturing survey.- Transition to new emission standards seems to be harming the european auto sector, and that should feed into the ONS data too. I still expect 0.2% m-o-m growth in Sep-18, but the drag during 4Q18 is looking larger.
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