INSTANT VIEW - Manufacturing plunges at record pace in November

Mon Dec 1, 2008 10:08am GMT
 
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LONDON (Reuters) - Manufacturing shrank at a record pace in November after a collapse in new orders, purchasing managers' data from Markit/CIPS showed on Monday.

The headline manufacturing PMI figure plunged to 34.4 from October's downwardly revised 40.7 -- both the lowest level and the biggest one-month fall in the series, which started in 1992.

KEY FIGURES FOR CIPS/MARKIT UK MANUFACTURING PMI SURVEY

Nov Oct Forecast

Manufacturing activity 34.4 40.7 (41.5) 40.0

* Headline figure, output, new orders, new export orders, employment, stocks of raw materials, purchasing activity and backlogs of work all at series low

* Autos, construction and consumer goods industries hardest hit

VICKY REDWOOD, UK ECONOMIST, CAPITAL ECONOMICS  Continued...

 
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