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4 tenth downward revision to PMI manufacturing

UK DATA
  • UK PMI manufacturing final release (revised down 4 tenths) points to "All five of the sub-components included in the PMI calculation signalled a deterioration in operating conditions during October. Alongside lower new orders, output and employment, stocks of purchases also declined and suppliers' delivery times improved (traditionally a sign of weak demand)."
  • Selling prices meanwhile decreased for the fourth time in the past five months. Companies linked reduced output charges to passing on lower purchasing costs and weak market demand. Trends in price measures signalled that while medium and large sized manufacturers saw input costs and prices for finished products rise, both continued to rise at small-scale producers."

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