UK manufacturing PMI rises unexpectedly in October to 49.6

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The UK manufacturing purchasing managers' index rose to a six-month high in October of 49.6, according to IHS Markit.

The reading, however, remained below the neutral 50.0 mark separating expansion from contraction.

The market had been expecting a modest fall to 48.2, from the 48.3 recorded in September.

'Ongoing uncertainties surrounding Brexit, the economic outlook and the political situation continued to weigh on the UK manufacturing sector during October,' IHS Markit said.

'Output and new order inflows contracted, leading to further job losses.'

'Firms also ramped up stock-building and purchasing activity in the lead-up to the (postponed) October Brexit departure date.'