Although remaining well below the critical no change level of 50.0 in October, the latest seasonally-adjusted Purchasing Managers’ Index (PMI – a composite indicator designed to provide an overall view of the manufacturing economy), published by the Chartered Institute of Purchasing and Supply (CIPS) rose slightly for the second successive month. Nevertheless, at 46.7, the headline indicator continued to signal overall manufacturing contraction, as it has done for the past eight months.
OCTOBER PURCHASING MANAGERS’ SURVEY – AT A GLANCE
