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UK manufacturing sector registers growth

4 January 2011
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UK manufacturing sector registers growthManufacturing activity improved during December 2010, a new report reveals.

The purchasing managers' index (PMI) for the sector rose to a 16-year high of 58.3 over the month, with sharp rises in output and new orders.

According to the figures from Markit and the CIPS, jobs growth also improved during the period in question, with export business continuing to drive expansion.

Significant rises were recorded during December in the electrical, transport and chemicals and plastics fields, with sales to customers located in Europe, the US and east Asia all increasing.

However, the study also warns cost pressures are increasing as a result of strong growth in input prices during the end of 2010.

"The UK manufacturing sector saw a truly spectacular end to 2010," Markit senior economist and author of the report Rob Dobson stated, adding: "The latest data are consistent with manufacturing production rising at a quarterly rate close to two per cent."

Meanwhile, figures from JPMorgan and Markit regarding global manufacturing activity have indicated it increased from 53.9 in November to a six-month high of 55 last month.ADNFCR-3058-ID-800321076-ADNFCR
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