The UK manufacturing sector ended 2016 with positive momentum. The Purchasing Managers’ Index (PMI) of private company Markit in this area increased from 53.6 points in November to 56.1 points in December, which is a 30-month high. The market expectations were for a decline to 53.3 points. Over the past five months PMI index in the British production shows that the sector is expanding because the value is more than 50 points.
In December, the growth in production and new orders have in all sub-indices, as there are strong increases in production of consumer, intermediate and investment goods.
The new export orders grow for the seventh consecutive month, besides the rate of increase is the second-fastest since the beginning of 2014. A sharp increase was reported only in September 2016. The companies surveyed reported more new orders for exports from the US, Europe, China, Middle East, India and other Asian markets.
The employment in the sector rose for the fifth consecutive month in December, the rate is the fastest in 14 months.
The manufacturing sector in the UK starts 2017 on stable foundations. The incentive for competitiveness from the weak exchange rate undoubtedly remains a key driver of new orders.
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