Quotes from Capital Economics:
– Growth in UK industrial production (09.30 GMT) is likely to have slowed in October, whilst manufacturing output growth may have stalled. Although the output balance of the manufacturing PMI rose from 51.8 in September to 54.1 in October, on the basis of past form it still points to a slowdown in manufacturing output.
– What’s more, the total orders balance of the CBI Industrial Trends also fell, from -4 to -6.
– Accordingly, we have pencilled in no monthly growth in manufacturing output in October, providing further clear signs that a combination of weak external demand and the strong pound is still hurting UK manufacturers.
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