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Financial News: UK Factory PMI Falls More Than Forecast

UK Factory PMI Falls More Than Forecast

01/02/2018 - 04:46:00 (RTTNews)

(RTTNews) - The UK manufacturing activity growth eased more than expected in December, data published by IHS Markit showed Tuesday.

The IHS Markit/Chartered Institute of Procurement & Supply Purchasing Managers' Index fell to 56.3 in December from November's 51-month high of 58.2. The score was below expectations of 57.7.

The headline PMI has now remained above the 50.0 no-change mark for 17 consecutive months.

"The manufacturing sector's performance is encouraging, showcasing a resilient response to the ebbs and flow of the year's uncertainty with a sparkling end to a strong period of growth," Duncan Brock, director of customer relationships at the CIPS, said.

Manufacturing output and new orders have both expanded throughout the past 17 months. Companies raised employment in response to outstanding business.

The rate of increase in input costs eased to a four-month low in December, but remained marked overall. Part of the increase in purchase prices was passed on in the form of higher output charges in December.

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