Output growth weakened, while new order inflows and employment both declined for the first time since July 2016 (the PMI survey directly following the EU referendum). The drop in new business was partly driven by rising global trade tensions and Brexit uncertainties. T

he seasonally adjusted IHS Markit/CIPS Purchasing Managers’ Index (PMI) fell to a 27-month low of 51.1, down from September's revised reading of 53.6 (originally published as 53.8). Data collection was undertaken between 12-26 October, closing before the Chancellor's Budget announcement on Monday 29th.