UK Manufacturing Rises in January Boosted by Exports

The headline reading on the Markit/CIPS UK Manufacturing purchasing managers’ index eased to 56.7 in January from a downwardly revised 57.2 in December.

That was lower than the consensus forecast for 57.0 in a Reuters poll of economists but well above the 50-mark that separates expansion from contraction.

Economists said the sector, which accounts for around a tenth of the UK economy, was still showing solid growth.

“UK manufacturing made a strong start to the new year, continuing the robust upsurge in production seen at the tail end of 2013,” said Rob Dobson, senior economist at survey compilers Markit.

“Although the pace of output expansion has cooled slightly an recent months, growth is still tracking at one of the highest rates in the 22-year survey history.”

via The Guardian

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza