UK manufacturing PMI rose to 52.8 in October, a five-month high, though slower deliveries inflated it. Gilts rallied as Brent fell 4.5%, and markets put a Bank of England hike to 4.00% on Thursday at about 92%.
Julian Jessop flags that October’s factory expansion came with a fresh acceleration in both input costs and selling prices, not just energy, tightening the case for Thursday’s Bank of England decision. Source
October's final S&P Global UK manufacturing PMI printed 52.8, matching both the flash estimate and consensus (previous: 51.9). That is a five-month high. The output index rose to 53.6 from 51.5, its strongest since September 2024. Production has grown for seven straight months and export orders for ten, with new work coming from mainland China, the EU and the United States.
