UK manufacturing PMI drops to 51.1 in October, a big miss on expectations

The manufacturing sector activity in the UK economy deteriorated more than expected in the month of October, the latest data from Markit showed on Monday.

The manufacturing Purchasing Managers' Index (PMI) in the UK arrived at 51.1 points in October, as compared to a previous 53.8 reading. Markets had predicted the PMI to tick down to 53.0.