U.K. manufacturing PMI index likely to have declined slightly in November – Lloyds Bank

The U.K. manufacturing PMI started the fourth quarter on a stronger note. The index rose to 56.3 in October from September’s 56. In spite of recent revisions to official manufacturing output data painting a better scenario of health in the sector, the PMI continues to point towards a more positive rate of activity.

Even if the CBI Industrial Trends survey recorded a rise in total orders on a sequential basis in November, the headline PMI is expected to have dropped modestly in the month to 56, noted Lloyds Bank in a research report. This is likely to go some way to additional narrowing the gap between the official data and the PMI survey.

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