Manufacturing output growth rises

The rate of growth in the UK manufacturing industry has risen for the first time since March, a survey by the Chartered Institute of Purchasing and Supply (CIPS) has found.

CIPS said that its Purchasing Managers' Index - which measures business conditions and confidence - rose to 54.9 from September's 10-month low of 53.5. A figure of above 50 indicates growth in the UK's manufacturing output.

In a separate study of small and medium businesses conducted by the CBI, manufacturers said that they expected to have to increase production to meet rising demand, with 31 per cent of firms anticipating a boost between November and January.

The survey could persuade the Bank of England's Monetary Policy Committee (MPC) to hold back on another round of quantitative easing - pumping new money into the economy - because the economic recovery still seems to have reasonable momentum.

Read at full report at the BBC. ·