The UK industrial sector grew in October at its slowest rate in two years

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The purchasing managers index in the UK industrial sector dropped in October to 51.1 points from 53.6 points in the previous month, IHS Markit reported. This is the minimum value of the indicator for 27 years. Experts had expected a less significant drop to 53 points. In October, there was a decrease in number of new orders from abroad and a weakening growth in domestic demand amid uncertainty associated with Brexit. The situation with new orders has affected the growth of production, the pace of which was the lowest since August 2016. It also affected employment in the industrial sector, which fell for the first time since July 2016. The survey showed that 48% of its participants expect an increase in production in a year.

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