LONDON (dpa-AFX) - The UK manufacturing growth slowed in January, final survey results from IHS Markit showed on Tuesday.
The Chartered Institute of Procurement & Supply final manufacturing Purchasing Managers' Index dropped slightly to 57.3 in January from 57.9 in the previous month. But the score was above the flash 56.9.
The index remained above the 50.0 no change level for the twentieth consecutive month.
Production growth accelerated for the third straight month to its highest since July 2021. Increased output reflected rising new order intakes, efforts to tackle backlogs of work and a slight improvement in export demand.
Manufacturing employment increased for the thirteenth consecutive month, with the rate of expansion the second-steepest in 11 years.
Although input price inflation remained substantial compared to the historical standards, the rate of increase eased to a nine-month low. Higher costs were passed on to clients in the form of increased output charges.
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