LONDON, Dec 1 Reuters Britain39;s manufacturing sector showed further signs that it might be turning a corner in its longrunning downturn but companies remained cautious and pushed up their prices, according to a survey published on Friday.

The final reading of the SP GlobalCIPS manufacturing Purchasing Managers39; Index PMI improved for a third month in a row to 47.2 in November from 44.8 in October.

The reading was also up from a preliminary November estimate of 46.7 although it remained below the 50.0 growth threshold for a 16th month in a row.

The severity of the downturn eased in output and new orders, the PMI showed.

Manufacturers nonetheless remained on a cautious footing, with ongoing market uncertainty and the need to control costs leading to job losses, stock depletion and lower purchasing, SP Global said.

Input costs fell again but manufacturers increased their selling prices for only the second time in six months albeit fractionally as they sought to repair profit margins, it said.

The Bank of England is monitoring price pressures in the economy after keeping interest rates at their 15year high in September and November and saying that it has not seen enough easing in underlying inflation to think about cutting them.

Reporting by William Schomberg; Editing by Toby Chopra

Source Reuters