Britain’s manufacturing touches 15 year high
The wheels are finally taking a full circle in Britain. And the indication comes by merely looking at the country’s manufacturing sector which has grown at a rate which was never seen in the past 15 years.
The PMI manufacturing survey done by Chartered Institute of Purchasing and Supply/Markit stood at 56.4 for the month of January as against 54.6 for December. This is the fastest pace at which the index has rise in the past 15 years.
The good news is that for the secondary sector index has managed to stay much high that 50, which means that it has expanded as against contraction which happened for the most part of last year. January data point to a robust start to 2010 for the UK manufacturing sector.
“The headline PMI hit a 15-year high as growth of new orders and production accelerated and employment rose for the first time since April 2008," said Rob Dobson, senior economist at Markit.