The UK, one of the few countries in the euro zone realising any growth, saw manufacturing data rise in a surprise turn around.
Figures for manufacturing have depleted for the last 5 months, with recent retail sales figures dropping due to the unseasonal weather. The solid PMI manufacturing figure of 57.5 was left behind back in June. October’s figure was 53.2, rising from 51.5 against a forecast that predicted stagnation at 51.5. Contraction is levelled below 50.
A buoyant domestic market
Stronger euro-sterling exchange rate
Foreign exporters to the UK hit by stagnant EU economy
GBP was up against USD, 1.6004 up 0.0035(0.2200%) 12.49pm GMT
GBP/EUR, 1.2806 up 0.0039(0.3100%) 12.47pm GMT
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