Manufacturing output continued to rise at a solid pace, although the rate of expansion eased to a six-month low. Higher production reflected rising new order intakes, albeit the slowest in seven months, which increased through robust demand from both domestic and export clients. Sector data signalled solid increases in output and new orders across the consumer, intermediate and investment goods sectors. Rates of expansion were higher in the latter compared to those at consumer and intermediate goods producers.
UK Manufacturing PMI declined to 55.3
The start of 2018 saw a further easing in the rate of expansion of the UK manufacturing sector. At 55.3 in January, the seasonally adjusted IHS Markit/CIPS Purchasing Managers’ Index (PMI) was down further from November’s 51-month high and at its lowest level since June last year. That said, the PMI remained well above its long-run average of 51.7. The latest survey was conducted from 12-26 January.
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