UK manufacturing sector returns to growth

The UK’s manufacturing sector has returned to growth, with overall activity at its highest level for eight months.UK manufacturing sector returns to growthThe purchasing managers’ index (PMI) from Markit/Cips recorded a level of 52.1 last month, up from December’s revised reading of 49.7.

A reading above 50 indicates that the sector is expanding.

The survey found a sharp increase in output, a rise in new orders and a fall in costs faced by manufacturers.

New export orders continued to increase, and Markit/Chartered Institute of Purchasing & Supply (Cips) said companies had reported that UK customers were increasingly willing to spend.

“The UK manufacturing sector has sprung to life in the first month of 2012 to defy any economic gloom, but it is too early to say whether this trend is sustainable,” said David Noble, chief executive at Cips.

The PMI figure for the service sector- which accounts for about 70% of the UK economy – will be released soon.

February 22, 2012  Tags: , , , ,   Posted in: Building Businesses, Business Win, Growing Businesses, Growing Economy, Uncategorized

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