Week 45 in Manufacturing News
US manufacturing sector contracts for third straight month; Brexit uncertainty hits UK manufacturing sector; What a Dec 12 Election means for UK manufacturers; Europe: Facing Spillovers From Trade and Manufacturing.
US manufacturing sector contracts for third straight month
The US manufacturing sector contracted more than forecast in October but showed month-to-month improvement for the first time in seven months, adding to a mixed bag of data on the domestic economy.
In its monthly survey, the Institute for Supply Management said its index measuring factory activity rose to 48.3 last month, up from a 10-year low of 47.8 in September. Economists polled by Thomson Reuters were looking for a stronger reading of 48.9. A reading below 50 indicates contraction.
Source: Financial Times.
Brexit uncertainty hits UK manufacturing sector
Britain’s factories suffered a sixth consecutive month of falling new orders in October as ongoing Brexit uncertainty hit demand from domestic customers.
However, the pace of decline in activity across the sector eased for a second month. The IHS Markit purchasing managers’ index picked up to 49.6 in October, from 48.3 in September, where a number below 50 signals contraction.
Source: The Guardian.
What a Dec 12 Election means for UK manufacturers
As MPs vote to hold a general election on 12 December, what will the outcome mean for UK manufacturing? We run through party policies from manifestos past to gauge the direction of travel for industry.
Full story: The Manufacturer.
Europe: Facing Spillovers From Trade and Manufacturing
As in the rest of the world, European trade and manufacturing have weakened. There are some signs that this slowdown is spreading into the rest of the economy. Investment is starting to lose steam.
These developments have slowed economic activity in the region, especially in advanced Europe, according to the IMF’s latest health check of Europe’s economy.