{"id":1669232,"date":"2022-10-03T04:52:11","date_gmt":"2022-10-03T08:52:11","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1669232"},"modified":"2022-10-03T04:52:35","modified_gmt":"2022-10-03T08:52:35","slug":"uk-manufacturing-pmi-shows-falling-output-weak-foreign-demand","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/uk-manufacturing-pmi-shows-falling-output-weak-foreign-demand\/","title":{"rendered":"UK manufacturing PMI shows falling output, weak foreign demand"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fuk-manufacturing-pmi-shows-falling-output-weak-foreign-demand%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1669232&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>LONDON (Reuters) \u2013     British manufacturing output fell for a third month in a row in September and orders declined for a fourth consecutive month, hurt by falling foreign demand, according to a closely watched survey released on Monday.<\/p>\n<p>The S&#038;P Global manufacturing Purchasing Managers\u2019 Index (PMI) rose to 48.4 from August\u2019s 27-month low of 47.3 but remained below the 50-level that separates growth from contraction and was a fraction weaker than the initial \u2018flash\u2019 estimate of 48.5.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>\u201cSeptember saw new export business contract at the quickest pace since May 2020, with reports of lower demand from the U.S., the EU and China,\u201d S&#038;P Global said.<\/p>\n<p>\u201cManufacturers faced weak global market conditions, rising uncertainty, high transportation costs reducing competitiveness and longer lead times leading to cancelled orders,\u201d it added.<\/p>\n<p>The most recent official data showed manufacturing output grew by 1.1% in the year to July.<\/p>\n<p>Britain\u2019s economy is on the cusp of recession as households and businesses wrestle with rising energy costs, a jump in borrowing costs and a volatile currency which struck a record low against the U.S. dollar on Sept. 26.<\/p>\n<p>While in theory a weak pound should boost demand for British exports, by making them cheaper for overseas buyers, past currency falls in 2008 and 2016 had little effect.<\/p>\n<p>Sterling weakness does raise the cost of imports of fuel and raw materials \u2013 which are often priced in dollars \u2013 and the PMI showed that input cost inflation rose for the first time in five months, partly due to the weaker pound.<\/p>\n<p>\u201cA broad range of inputs were reported as up in price, including chemicals, electronics, foodstuffs, metals, packaging, plastics and timber,\u201d S&#038;P Global said.<\/p>\n<p>The Bank of England\u2019s chief economist, Huw Pill, has said a significant rise in interest rates is likely to be needed in November, in light of looser fiscal policy at a time when inflation is close to a 40-year high.<\/p>\n<p> (Reporting by David Milliken; Editing by Hugh Lawson)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/uk-manufacturing-pmi-shows\/attachment\/smoke-billowing-from-a-chimney-is-pictured-in-glasgow\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/tagreuters.com2022binary_LYNXMPEI920DN-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI920DN-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>LONDON (Reuters) \u2013 British manufacturing output fell for a third month in a row in September and orders declined for a fourth consecutive month, hurt by falling foreign demand, according<\/p>\n","protected":false},"author":66,"featured_media":1889441,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1669232","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_finder_url":"https:\/\/www.oann.com\/business\/uk-manufacturing-pmi-shows\/?utm_source=rss&utm_medium=rss&utm_campaign=uk-manufacturing-pmi-shows","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1669232","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1669232"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1669232\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1889441"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1669232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1669232"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1669232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}