Monday, October 03, 2005

Better Days ahead?

Survey shows UK manufacturing upturn

British manufacturing activity unexpectedly grew at its fastest pace in six months in September because of a rise in new orders, according to a survey of purchasing managers published on Monday.

The Cips/RBS Purchasing Managers’ Index rose to 51.5 last month from 50.3 in August - above the 50 mark which separates expansion from contraction. Although the number indicated only a modest rate of growth, it was the highest since March and well above independent economists’ expectations of stagnation.
FT,com full story

Manufacturing posts big gain

NEW YORK (CNN/Money) - Manufacturing growth surged in September, according to a closely watched survey of industry executives released Monday that came in much stronger than Wall Street expectations.
The Institute for Supply Management's manufacturing index came in at 59.4 for September, up from the 53.6 reading in August. It was the highest reading in the index in 13 months and came despite the shock of higher energy prices paid by many manufacturers in the month. Economists surveyed by had forecast the index would slip to 52 in September.
CNN Money full Story

These reports come as something of a surprise to the pundits as well as me! Other stories from around the world indicate similar trends; check out reports from Australia , Ireland and Europe.Maybe by the beginning of next year the steel manufacturers will try and implement the price increases they have told us are in effect now !

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