Wednesday, December 01, 2010
Manufacturing booms as house prices slip
Posted by David Smith at 09:40 AM
Category: Thoughts and responses

The Markit November purchasing managers' survey for manufacturing is one of the most encouraging bits of economic news for a long time. The index rose to 58 in November from an upward-revised 55.4 (originally 54.9) in October. The index has been above the key 50 level - which indicates expansion - for 16 months in a row, is at its highest since September 1994 and has employment intentions at their highest since the survey began in 1992. Genuinely good news.

Meanwhile, the other part of the rebalancing picture was a 0.3% drop in house prices in November, according to the Nationwide Building Society, with prices no higher ( up by just 0.4% to be exact) on a year earlier. More on that here.