British manufacturing output expanded at its fastest rate in six months in January as factories shed the impact of Omicron and global supply chain pressures started to ease.
- Factories have posted that output and employment expanded at a faster rate last month as inflation pressures become less intense.
- The IHS Markit/CIPS Purchasing Managers’ Index (PMI) signaled the output index grew to 54.5 in January, an increase from 53.6 in December.
- That figure is stronger than an initial flash estimate of 53.8 released last month, signaling that the economy may have strengthened as Covid-19 dropped backed from record levels last month.
- The headline PMI, which measures activity across the sector, fell to a four-month low of 57.3 in January from 57.9 in December.
The decline in the PMI was attributable to a slowdown in new order growth, and faster deliveries from suppliers as the strains on global supply chains eased.
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Source: IHS Markit
