Markets
U.K. Manufacturing Sector Slows in January
- 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.
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. “