Rare 'flash' of hope thanks to surge in manufacturing

THE UK economy had a flash of “hope” in October after manufacturing roared back to life, ending a yearlong slump.

- By Samuel Norman

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Latest flash PMI data from S&P Global showed business activity jumped to a two-month high at 51.1, up from 50.1 in September. Growth was driven by a sharp uptick from the manufacturing sector which hit a 13-month high at 51.2, surging from 45.7 a month prior.

However, the economy remained fragile, holding just above the 50 mark which indicates a sector is growing.

Chris Williamson, chief business economist at S&P, said: “October's flash UK PMI survey brings hope that September was a low point for the economy from which business conditions are starting to improve.