UK Manufacturing PMI: Industry starts the year on the back foot but there is optimism among companies

Stock image - worker grinding casting in manufacturing facility. Image credit: Shutterstock

The UK manufacturing industry has started 2023 on the back foot, in much the same way as it ended 2022, with output, new orders and employment all contracting further, according to the latest S&P Global / CIPS UK Manufacturing PMI®.

January 2023 UK Manufacturing PMI key findings: Manufacturing PMI rises to 47.0 in January Output and new orders fall across all three product categories Input price inflation eases to 27-month low

This content is for subscribers only. Subscribe now for free to read the full article.

January’s seasonally adjusted PMI of 47 is higher than the earlier flash estimate of 46.7 and up on December’s 31-month low of 45.3. Nevertheless,…