TOP NEWS: UK Manufacturing PMI Hits Three-Month Low In January

LONDON (Alliance News) - The UK manufacturing sector made a lacklustre start to 2019, slipping to ...

Alliance News 1 February, 2019 | 9:58AM
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LONDON (Alliance News) - The UK manufacturing sector made a lacklustre start to 2019, slipping to its lowest level in three months, IHS Markit revealed on Friday.

The IHS Markit/CIPS UK Purchasing Managers' Index (PMI) fell to 52.8 in January, down from the 54.2 score in December, registering its second-weakest reading since July 2016. Economists were expecting a manufacturing PMI reading of 53.5.

However, the score remains above the boom-or-bust line of 50 that separates expansion from contraction.

Rob Dobson, director at IHS Markit, said: "The start of 2019 saw UK manufacturers continue their preparations for Brexit. Stocks of inputs increased at the sharpest pace in the 27-year history, as buying activity was stepped up to mitigate against potential supply-chain disruptions in coming months. There were also signs that inventories of finished goods were being bolstered to ensure warehouses are well stocked to meet ongoing contractual obligations."

By Arvind Bhunjun; arvindbhunjun@alliancenews.com

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