The Markit/CIPS Purchasing Managers’ Index® (PMI®) for the manufacturing sector showed robust growth in output and new orders.
Posting at 57.3 in December compared to the previous month's 58.1, companies benefitted from a strpnger domestic market and incoming export orders.
CIPS Group CEO David Noble commented, "UK manufacturing ended 2013 on a high and with all signs of powering ahead into 2014. The rate of production and new orders remained well above the long-run survey average, rounding off the best overall quarterly performancefor the PMI since Q1 2011. The sector’s broad based expansion was underpinned by strong domestic demand and improved export orders, all of which are signs of an underlying trend of continuing growth going into 2014.
"Higher demand and new orders in December resulted in increasedmanufacturing employment for the eighth consecutive month. Purchases of new materials also rose solidly reflecting the ongoing increases in production requirements. Concurrently this is putting a distinct pressure on suppliers and on delivery times.
"The only area of concern is the cost inflationary pressure which continued to build up during this final month, with input price inflation hitting a 28-month high."
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