US Oil Workers Strike Over National Contract

The UK manufacturing sector expanded at a faster pace in January following a modest recovery in export orders, a closely-watched survey has indicated.

The latest Markit/CIPS Purchasing Managers’ Index (PMI) rose to 53 from 52.7 in December. A figure above 50 indicates growth.

Cheaper oil led to a sharp drop in costs for companies, the survey found.

Markit said the lower costs led to factories cutting their prices for only the second time in the past five years.

The figures suggest that manufacturing output is rising by about 0.2% a quarter, according to Markit, a a slight improvement on the 0.1% growth recorded in the last three months of 2014.

Rob Dobson, senior economist at Markit, said that pace meant the sector would “provide little meaningful boost” to the economy in the first quarter.

via BBC

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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