Home/FX/Newsfeed

UK Manufacturing PMI Rises in January

Share Print 0

The UK manufacturing sector expanded at a faster pace in January following a modest recovery in export orders, a closely-watched survey has indicated.

The latest Markit/CIPS Purchasing Managers’ Index (PMI) rose to 53 from 52.7 in December. A figure above 50 indicates growth.

Cheaper oil led to a sharp drop in costs for companies, the survey found.

Markit said the lower costs led to factories cutting their prices for only the second time in the past five years.

The figures suggest that manufacturing output is rising by about 0.2% a quarter, according to Markit, a a slight improvement on the 0.1% growth recorded in the last three months of 2014.

Rob Dobson, senior economist at Markit, said that pace meant the sector would “provide little meaningful boost” to the economy in the first quarter.

via BBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

,
Back to Top