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UK's manufacturing activity slightly decreased in November, the latest survey from Markit Economics and Chartered Institute of Purchasing & Supply said on Tuesday.
The seasonally adjusted CIPS/Markit purchasing managers' index dropped to 51.8 in November from a revised 53.4 in October. Economists expected a reading of 54. However, the PMI reading was above the neutral mark in four out of the past five months. A reading above 50 indicates expansion, while a reading below 50 signals a contraction.
Output rose for the sixth straight month in November. Looking ahead, the total new orders increased for the fifth successive month, as domestic and export market improved. Manufacturing employment decreased for the nineteenth straight month in November.
David Noble, Chief Executive Officer at the CIPS said, " After surviving one of the deepest downturns in recent memory, the manufacturing sector has slowly but surely started to grow again and conditions are looking decidedly less sickly than at the start of the year."
" The UK manufacturing PMI may have fallen back slightly in November, but nonetheless remained above levels seen since the start of the financial crisis in late 2007." Rob Dobson, Senior Ecnomist at Markit Economics said.
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