Urgent: The manufacturing purchasing managers' index (PMI) in the UK has fallen to its lowest level in 6 months.

The data released by the IHS Markit office, part of S&P Global, on Thursday morning showed a negative initial reading for the Purchasing Managers' Index (PMI) in the manufacturing sector in the UK for the month of October. The preliminary reading recorded a contraction at 50.3 points, which was lower than market expectations that indicated the index would record the same reading as in September, which was 51.5 points. At the same time, the preliminary reading showed that the PMI for the services sector in the UK recorded growth at 51.8 points during October, which was lower than market expectations that anticipated the index would reach 53.5 points, following a growth reading of 52.8 points in September. It is noteworthy that a reading above 50 indicates growth in activity in the manufacturing and services sectors, while a reading below 50 indicates a contraction in sector activity. Typically, two readings are released for this index over the week: the initial estimates and the final reading, with the initial estimates being released first and having the stronger impact.