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UK manufacturing output continues to expand

Staff Writer | February 1, 2017
UK manufacturing output expanded in January for the sixth straight month, as expected, but price pressures intensified with input cost inflation surging a record high.
UK manufacturing
Working in Britain   Price pressures intensified
The Markit/CIPS manufacturing purchasing managers' index for January fell to 55.9 from December's two-and-a-half-year high of 56.1, exactly in line with forecasts.

Thanks to a solid increase in new orders, Markit said output rose at the fastest rate since May 2014.

However, rising inflation pressures were apparent as input cost inflation surged to a survey record high and output charges rocketed at one of the steepest rates in the history of the PMI series.

While overall new orders and export orders indices turned down, the input price balance rose sharply, from 77.7 in December to a record high of 88.3, which will increase pressure on firms to raise prices.