The seasonally adjusted S&P Global UK Manufacturing Purchasing Managers’ Index (PMI) rose to a 17-month high of 51.8 in January, up from 50.6 in December. The PMI has now signalled growth for three consecutive months. Three of the five PMI components were at levels indicating an improvement in overall operating conditions (new orders, output and supplier delivery times). January also saw production rise for the fourth consecutive month and at the joint-quickest pace since September 2024. Higher output was linked to improved export sales, a generally stable domestic market and a boost from customer restocking.

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