Sterling’s fall since Britain voted to leave the European Union stoked the sharpest rise in factory costs on record last month but offered little boost to exports, tainting otherwise robust manufacturing growth at the start of 2017.
Markit/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) edged down to 55.9 from December’s 2-1/2 year peak of 56.1, matching the consensus forecast in a Reuters poll.
The survey out on Wednesday suggested Britain’s economy continues to expand at a solid rate after outpacing its rivals last year, with the PMI’s gauge of manufacturing output pointing to the fastest growth since May 2014.
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