UK private sector companies endured another month of faster input cost inflation, attributable to higher wages and rapid increases in prices for fuel, energy, and raw materials.
- In November, customer demand continued to expand sharply, despite firms passing through higher costs to the customers.
- The headline IHS Markit/CIPS Flash UK Composite Index posted 57.7 in November, slightly lower than 57.8 in October. Service sector growth topped the pace of manufacturing recovery in November.
- New order intakes rose at the strongest rate starting June, driven by a robust increase in business and consumer spending.
- At 58.2 in November, the adjusted IHS Markit/CIPS Flash Manufacturing Purchasing Managers’ Index (PMI) was the highest for the three months due to rising output, new orders, and employment.
Exports rose only slightly, but a resurgence in the service economy was offset by dropping sales in the manufacturing sector.
FTSE 100 down -0.12%, GBP USD down -0.25%
Source: IHS Markit