British industrial growth slipped in December as new orders came in at the slowest pace in five months, according to a survey that showed scant sign of better fortunes for manufacturing this year after a tough 2015.
UK manufacturing industry expanded last month at 51.9 but below both expected 52.8 and previous 52.7. This
Though the economy is still struggling with exports, but net lending to individuals is rising and currently at 5.3 billion compared with 4.8 billion recorded previously. This reveal surge in domestic investments and investors’ confidence in the economy since global rout begins last year.
While net lending is seen rising, the total quantity of domestic money supply rose 0.4 percent below 0.5 percent expected by over 20 economists surveyed.
“The UK manufacturing sector ended 2015 on a disappointing note, with its rate of growth slowing further from October’s recent high back down towards the stagnation mark,” a senior economist at Markit, Rob Dobson said.
“If this ongoing mix of subdued growth and weak price pressures remains prevalent elsewhere in the economy, the Bank of England will likely continue to push any potential rate increase later into 2016,” Dobson added.