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PMI manufacturing statistics – Barclays’ comment

Helena Sans, Head of Manufacturing at Barclays, comments on today's PMI manufacturing figures.

“A concerning set of data from the manufacturing sector for October with not only a slowdown in output growth but also new order inflows and employment both down for the first time in over two years. Manufacturers are facing a double whammy of a fall in export orders and weak domestic demand, both conspiring to restrict performance. The only little ray of sunshine amidst the gloom is that UK manufacturers remain positive for now with almost half expecting output to be higher in a year’s time but for that confidence to translate into stronger performance, it’s crucial that the sector gets clarity now on a Brexit transition deal and so avoid the risk of prolonging a more cautious and tentative approach to investment.”
Notes to editors

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About Barclays

Barclays is a transatlantic consumer and wholesale bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US.

With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs approximately 80,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

For further information about Barclays, please visit our website www.home.barclays