UK October final manufacturing PMI 44.8 vs 45.2 prelim

<ul><li>Prior 44.3</li></ul><p>It's just a slight downwards revision as UK manufacturing output, new orders and employment all showed declines in October. Meanwhile, business optimism fell further to a ten-month low. S&amp;P Global notes that:</p><p>“The UK manufacturing downturn continued at the start
of the final quarter of the year, meaning the factory sector
remains a weight dragging on an economy already skirting
with recession.
</p><p>"Production volumes contracted for the eighth consecutive
month, the longest sequence of continual decline since
2008-09, as weak demand at home and overseas led to a
further retrenchment of new order intakes. Companies are
finding trading conditions difficult as they face headwinds
from client destocking, market uncertainty and the impact
of the cost-of-living crisis on consumer demand.
</p><p>"Risks to the outlook remain skewed to the downside.
Business optimism dipped to a ten-month low and
manufacturers' increased belt-tightening drove cuts to
employment, purchasing and inventories.
</p><p>"Although both input prices and output charges fell in
October, this brighter inflation outlook comes at the
cost of increased recession risk, being a symptom of the
broader weak demand malaise.”</p>

This article was written by Justin Low at www.forexlive.com.