A beat for the UK PMI manufacturing but.....>

UK DATA: A beat for the UK PMI manufacturing but the details don't look great

still with stock building helping buoy the number.

Highlights from the press release:

- "Although the contraction was shallower than the prior survey month, levels of

output, new orders, new export business and employment nonetheless fell further"

- "The investment goods sector was by far the weakest performer, seeing the

steepest drops in both output and new business" largely due to uncertainty.

- "The consumer goods sector was the only category to see output rise in

September"

- "Business optimism remained at a subdued level in September, despite improving

from the series-record low registered in the prior survey month"

- "The ongoing weakness exhibited by manufacturing filtered through to the

labour market, with staffing levels reduced at the fastest pace since February

2013."