Rising cost of raw materials bites into manufacturing growth
UK manufacturing output grew at a slower than expected rate last month as the rising cost of raw materials began to impact firms.
The IHS Markit/CIPS manufacturing purchasing managers' index (PMI) dropped to 55.3 in January - its lowest level since June 2017. However, as the figure remains above 50 then expansion is still taking place.
Markit has said that if the level is sustained, then it would expect growth to be 0.6% for the first quarter – which would be half that achieved in the final quarter of 2017.
Commenting, Carl... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
