Business conditions in the UK manufacturing sector stabilised at the start of the year as political uncertainty eased and the domestic market strengthened, according to a closely watched survey.
The IHS Markit/Cips manufacturing purchasing managers’ index rose to a nine-month high of 50 in January, up from 47.5 in December and marginally higher than the “flash”, or initial, estimate of 49.8.
A reading below 50 indicates a majority of businesses reported a decline in activity.
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