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UK manufacturing activity reaches 8-month high

3 February 2012
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UK manufacturing activity reaches 8-month highThe UK's manufacturing sector has started the year well with a climb in output at the fastest pace since March 2011.

January 2012 saw the industry's Purchasing Managers' Index (PMI) jump to 52.1, up from 49.7 in December 2011 and the highest level in ten months.

According to the figures from Markit and the CIPS, employment stabilised, output stood at a ten-month high and new orders increased for the first time in the past seven months.

In addition to the rise in production, there was decline in input costs for manufacturers last month at the sharpest rate since the middle of 2009, marking the third consecutive drop in the measure.

"Manufacturing was a key area of weakness which caused the UK economy to contract in the final quarter, so this surprising rebound in January means a return to recession is by no means a certainty," stated senior Markit economist Rob Dobson.

In further data from Markit, the eurozone has shown signs of improving, with Germany and Austria witnessing signs of recovery and Spain, Italy and the Netherlands all seeing an easing of downturns.ADNFCR-3058-ID-801281018-ADNFCR
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