Inventories of finished goods and purchases both edged lower in October.
Manufacturers stepped up hiring in October to meet rising demand conditions; and job-creation during the month was the strongest since last December.
The surge came on the back of increase in demand, technological advancements and favourable market conditions, the survey said. The US and countries in Southeast Asia were mentioned as destinations for new export orders. If growth slows to a worrying pace in spring 2019, "Beijing may have to greatly ramp up its easing measures at that time", they said.
USA manufacturing firms signalled a strong start to the final quarter of 2018, with operating conditions improving at a faster pace in October. Moreover, it was the strongest expansion since June, albeit only moderate overall. However, the level of incomplete work at Japanese manufacturers increased, despite greater employment. At the same time, vendor performance was broadly unchanged. Input price inflation accelerated at the fastest pace since March 2011 amid higher metal and fuel costs.
In recent months, the PMI has been "bouncing across the top", said Fiore, with the average ranging between roughly 58 and 61. And economic growth has direct bearing on the rate of inflation and it is consumer price pressures that dicate where interest rates, which are the raison d'être for most moves in exchange rates, will go next. Similarly, inventories of finished goods rose and at the quickest pace in nearly three and a half years. The former was associated with the immediate dispatch of products to clients, while the latter was linked to the purchasing of additional materials amid higher demand.
Manufacturing accounts for about 10% of Britain's economic output. Staffing levels rose at SMEs, but fell for the third straight month at large-sized companies.
The report, released on Wednesday by the CBN, showed that the "manufacturing PMI in the month of October stood at 56.8 index points, indicating expansion in the manufacturing sector for the 19th consecutive month".
"New contracts increased at only a modest pace, and firms were the least optimistic regarding the 12-month outlook for almost six years".
Euro zone factory activity grew at its weakest pace in more than two years last month as export orders fell for the first time since late 2014, a survey showed, adding to evidence the bloc's economy is well past its peak.