Manufacturing sector strong in autumn

01-11-2006

Manufacturing sector strong in autumn
Britain's manufacturing sector showed robust growth in October, continuing its autumnal revival, according to the Chartered Institute of Purchasing and Supply (CIPS).

Publishing its monthly purchasing managers' index (PMI) today, the CIPS revealed that high demand, a spate of new products and improved efficiency helped the index stay above the nominal even level of 50.0 for the 15th consecutive month.

The PMI slipped from September's high of 54.5 to 53.7, but the CIPS' director of professional practice, Roy Ayliffe, insisted that the sector's performance was still grounded in strength.

"Purchasing managers saw a strong growth in the manufacturing sector in October, albeit at a more moderate rate than last month," Mr Ayliffe said.

"The rising costs of raw materials resulted in companies having to increase their output costs, which rose to their highest level for three months."

Output prices accelerated their rate of growth, rising to 56.0 index points, while input prices increased but at a slower pace.

Employment in the manufacturing sector remained stable in October, the CIPS said.


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