U.K. Factories Boom as Pound’s Brexit Plunge Boosts Exports
- Manufacturing PMI jumps to 55.4 in September from 53.4
- Weaker pound helped boost exports by the most since 2014
Foley: Brexit a Massive Wave of Uncertainty for Pound
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U.K. factories had their best month in more than two years in September as the weaker pound sent export orders surging.
IHS Markit’s monthly Purchasing Managers Index jumped to 55.4 from 53.4 in August, capping the industry’s best quarter this year. The reading, the highest since June 2014 and far above economists’ forecast for 52.1, pushes the index further above the key 50 line that divides expansion from contraction.