S&P Global/CIPS Flash PMIs (Oct.)

The decline in the composite flash PMI to 47.2 in October took it further below the boom-bust level of 50.0, placing it deeper into contraction territory. This is consistent with recent data that suggests the economy is heading into recession. That’s hardly pleasing news for the incoming Chancellor (whoever it may be). More encouraging was the further evidence that pipeline pressures have continued to ease.

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