Britain's manufacturing sector grew for the fourth month in a row in October, according to the CIPS/Reuters purchasing managers' index released this morning.
The index recorded 54.2, its highest level since December 1999, reflecting significant expansion of output and new orders. Any figure over 50 signals growth.
The report suggested that US markets were picking up, with widespread reports of increased new business volumes. Employment numbers fell marginally, however, following the first monthly growth for four years in September.
Also this morning, the Reuters Eurozone Purchasing Managers' Index climbed to 51.3 in October from 50.1 in September, slightly better than economists' forecast of 51.
