Growth eases fear of a double dip
Thursday 02 February 2012
Britain's manufacturers dusted themselves down in January after a grim pre-Christmas run with the strongest growth for eight months, according to yesterday's barometer of the sector's fortunes.
Manufacturing output shrank 0.9 per cent in the last quarter of 2011 as the economy overall shrank by 0.2 per cent.
But the latest Chartered Institute of Purchasing & Supply/Markit survey showed signs of life last month as its activity index hit 52.1, the best since last March.
A score over 50 on the index signals expansion.
If sustained, the improvement should help the UK avoid another quarter of economic contraction and a technical double-dip recession.
The more upbeat tone of the Cips survey, which features rising new orders and easing price pressure on firms, may also persuade Bank of England rate-setters to vote for a smaller dose of money printing than expected at their policy meeting next week.
David Noble, Cips chief executive, said: "The UK manufacturing sector has sprung to life in the first month of 2012 to defy any economic gloom, but it is too early to say whether this trend is sustainable."
- 1 Howard Jacobson: Let's see the 'criticism' of Israel for what it really is
- 3 Belgium fan Axelle Despiegelaere lands L'Oreal campaign after World Cup viral photo
- 4 Britney Spears sings 'Alien' without Auto-Tune in embarrassingly brilliant leaked audio clip
- 5 PornHub begs users to stop uploading video clips of Brazil getting beaten 7-1
Game of Thrones author George RR Martin says 'f*** you' to fans who fear he will die before finishing Westeros saga
Instagram of US airport security chiefs: Lipstick knives and IED training kits among items seized
‘Ryan Gosling got someone pregnant and it's not me. Brazil you think you’re devastated…’
Israel-Palestine crisis: ‘We just want it to end… We don’t deserve to live like this’
Israel-Palestine crisis: Eight killed in Gaza Strip cafe while watching World Cup semi-final
Sustained immigration has not harmed Britons' employment, say government advisers
Australia facing international condemnation after turning around Sri Lankans at sea
7/7 memorial defaced on anniversary of 2005 attacks with ‘Blair lied thousands died’ graffiti
Even when it brutalises one of its own teenage citizens, America is helpless against Israel
There’s a nasty smell in the political air – and it’s coming from the Tories
Vanessa Feltz criticises 'vile' reaction to Rolf Harris allegations
iJobs Money & Business
£60000 - £75000 per annum: Harrington Starr: Business Analyst Consultant (Fina...
£60000 per annum: Harrington Starr: A leading provider in investment managemen...
£600 - £700 per day: Harrington Starr: AVS, JVS Openlink Endur Developer JVS, ...
£30000 per annum: Harrington Starr: A global leader in trading platforms and e...