UK business activity improves as manufacturing growth returns

Britain’s private sector growth accelerated this month as manufacturing output increased for the first time in a year, data showed.

Industry gets partial boost as production resumes jaguar land rover After the car giant’s factory was shut down due to a major cyber attack.

The S&P Global Flash UK Composite Purchasing Managers’ Index (PMI) recorded a reading of 51.1 in October, up from 50.1 in September.

Flash statistics are based on preliminary data. Any score above 50.0 indicates that activity is growing while any score below means it is shrinking.

October’s reading was slightly stronger than expected, with economists predicting 50.7.

experts Indicated that the improvement in growth may indicate that sentiment across the economy as a whole is becoming more positive.

chris williamsonChief business economist at S&P Global Market Intelligence said: “October’s flash UK PMI The survey raised hopes that business conditions have begun to improve after September was a low point for the economy.

“The return to growth in manufacturing for the first time in more than a year is welcome, with output picking up, especially with increased demand for services among consumers.

“Business confidence has also brightened slightly, job losses have moderated, and inflation pressures are returning to levels in line with the Bank of England’s 2% target.”

The research highlighted a modest improvement in activity in the services sector, but companies surveyed said it was still “dull” due to weak consumer sentiment and business caution ahead of the autumn Budget.

Meanwhile, manufacturers reported the fastest growth in output since September last year.

The firms said JLR still faces some challenges related to factory closures, but others highlighted they have benefited from the phased restart at the firm’s manufacturing sites.

October data also indicated that job losses in the private sector fell to the lowest level since May.

Cost inflation slowed for the second consecutive month and fell to its lowest level since last November.