"The rate of economic expansion dipped slightly in the three months to September following a near record-breaking previous month, but growth is still strong."
- Confederation of British Industries (CBI)
The British seasonally adjusted Purchasing Managers' Index, which is set to measure business activity in the country's manufacturing sector, dropped slightly to a three-month low of 51.5 at the end of the third quarter. The final gauge was slightly above market forecasts of 51.3 points and below last month's 51.6 points. This implies that the sector has been growing, as any reading above the threshold of 50 points demonstrates an increase in manufacturing activity.
In the meantime, manufacturing output in the UK grew at the fastest rate in half a year in September, however, still well below the numbers recorded in the opening quarter. Simultaneously, growth in new orders fell to the weakest pace in a year. As a result of all that, enterprises reduced the number of their employees for the first time in two and a half years. With respect to input prices, they continued to decline in September amid lower raw materials prices and particularly crude oil and oil-related costs. Selling prices also tumbled for the first time in three months in September.
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