UK manufacturers see increases in output and orders
Britain’s manufacturers have continued their strong start to the year with rates of expansion in output and new orders remaining above their respective long-run trends, reports the Engineer.
This is the conclusion of the latest Markit/CIPS Purchasing Manager’s Index for UK manufacturing, which posted 56.7 in January. Any figure above 50 indicates growth.
Despite being slightly down on December (57.2) and at its lowest level in three months, it is still well above the series average of 51.3.
Companies have scaled up output in response to stronger inflows of new orders and Markit says there have been reports of improved demand from the domestic market, and rising levels of new business from overseas.