Connect with us

Markets

U.K. Manufacturing Sector Slows in January

Published

on

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. ”

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.