FLASH: UK manufacturing PMI dip no hurdle to hike
- The UK’s manufacturing PMI declined by 1 point to 55.9 in September, but some rebound looks likely amid a 0.7-point rise to 58.1 in the euro area equivalent.
- A resurgence in the input price balance and lengthening lead times implies imported and domestic inflationary pressures in the pipeline.
- Higher flows of electricity and especially gas on the national grid point to supportive utilities output within the upcoming industrial production release.
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