Manufacturing activity in the UK accelerated at its fastest pace in more than two years, latest data from December shows. Activity – as measured by the Chartered Institute of Purchasing & Supply’s purchasing managers’ index – rose from 51.8 in November to 54.1 in December.
Despite the encouraging result, analysts were quick to point out that 2009 was a very difficult year for manufacturing and it will take more than a month or two of increased activity to make up the losses of the past two years.
“Yes, it’s an encouraging number, taken alone. But an awful lot depends on global economic growth this year and whether UK manufacturers can continue to export reasonably successfully,” said Mark Miller, economist at Lloyds TSB.
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