Growth in the UK’s manufacturing sector fell to a three-month low due to supply chain disruptions caused in the first month since the Brexit trade deal was signed with the EU, according to new data.
The closely-followed IHS Markit / CIPS Purchasing Managers’ Index (PMI) hit 54.1 in January, down from a three-year high in December of 57.5 where many manufacturers stockpiled goods over fears of a no-deal Brexit.
Any score above 50 is seen as a sector in growth.
Manufacturing slowed in January as most businesses rushed to fulfil orders in December, leading to long queues at ports (Gareth Fuller / PA)
Manufacturing output increased for the eighth successive month in January – however, the rate of expansion slowed as new orders fell due to a drop in new export business.
FTSE 100 enjoys solid day
proactiveinvestors.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from proactiveinvestors.co.uk Daily Mail and Mail on Sunday newspapers.
FTSE 100 adds to early gains despite dip in manufacturing purchasing managers index
proactiveinvestors.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from proactiveinvestors.com.au Daily Mail and Mail on Sunday newspapers.