FLASH: UK Mfg PMI rises with room for more
- The UK’s manufacturing PMI increased to 56.3 in October, which was in the upper quartile of the Consensus. Some further strength is likely to occur as the UK survey reconverges with the euro area’s balance over 2-points higher.
- Input prices and lead times are also rising amid “intense competition” for resources, which provides additional evidence of underlying inflationary pressures. The BoE still looks set to begin a hiking cycle with its upcoming decision.
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