The Wall Street Journal: U.K. manufacturing expands, aided by pound weakness

The U.K. manufacturing sector continued to expand at a brisk pace in October, as the weakened currency boosted exports, a survey showed Tuesday.

Financial information firm IHS Markit Ltd. said the purchasing managers index for the manufacturing sector stood at 54.3 last month, down slightly from the revised 55.5 in September, but above the expectations of analysts’ polled by The Wall Street Journal. Readings above 50 signify growth.

The October figure was also well above the index’s long-run average of 51.5. Manufacturers reported that the sharp depreciation of sterling, which has lost nearly 20% against the dollar since the June 23 vote to leave the European Union, boosted overseas orders, including from the EU, China and the U.S.

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