Ekonomické zprávy
23.11.2021

UK composite output index declined slightly in November

Data provided by IHS Markit/CIPS showed that in November, the seasonally adjusted UK Composite Output Index fell to 57.7 in November from 57.8 in October. However, the index remained above the average for the 3rd quarter.

The data showed that the growth in average cost burdens set a record high amid rising wages and a sharp rise in energy prices. Consumer demand continued to rise in November, and the overall growth rate of new orders reached a five-month high.

In November, the growth of the services sector outpaced the recovery in the industrial sector, although the latter showed the maximum growth in three months. Meanwhile, new orders grew at the fastest pace since June amid rising commercial and consumer spending. However, exports increased only slightly in November.

The data showed that the PMI in the manufacturing sector rose to 58.2 in November from 57.8 in October. The reason for the increase in the index was the growth of production, new orders and employment.

Meanwhile, the index of business activity in the services sector in November fell to 58.6 from 59.1 in October. This was nonetheless well above the post-lockdown low seen in August (55.0).

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