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U.K. Manufacturing Sector Slows in January

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7 years ago

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transport equipment
  • U.K. Manufacturing Sector Slows in January

The U.K. manufacturing sector expanded at a slower pace in January, following increased in price pressures.

The Manufacturing Purchasing Managers’ Index stood at 55.3 in January, down from November’s 51-month high and at the lowest level since June 2017.

U.K manufacturing

Duncan Brock, Director of Customer Relationships at the Chartered Institute of Procurement & Supply said: “Growth in the manufacturing sector continues to provide positive encouragement for the UK economy as the year started on a positive, if slightly reserved note.”

“Though the PMI showed continued growth, it was the weakest since June as shortages in commodities and raw materials resulted in a scrabble to complete goods, suppliers disappointed with longer delivery times and costs were on the rise again. ”

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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