LONDON: The UK manufacturing PMI, just released, showed that activity rose to a three month high of 52.9 in January, up from 51.9. That beats expectations.
But it’s a slightly mixed picture –although output hit 19-month high, new export orders fell and firms cut their staffing levels.
UK firms also reported that their raw materials were cheaper, allowing them to cut prices – adding to deflationary pressures.
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