FLASH: UK Mfg matches EA acceleration in Nov
- The UK’s manufacturing PMI matched the 1.6-point increase of the equivalent euro area survey but continues to lag the pace by 1.9-points at 58.2. This gap suggests further upside room, despite exceeding all forecasts in November.- Supply-chain constraints and demand for raw materials were hawkishly attributed as the primary motivator of price increases, overtaking exchange rate effects.
- A fall in oil and gas extraction would restrain IP growth relative to manufacturing output but may be partly offset by signs of strong electricity output.
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