Markit have released two press releases today summarising the results of their Purchasing Managers Index for the U.K. and the Eurozone. Both show manufacturing is performing strongly in January.
In the U.K. the Markit/CIPS Purchasing Managers’ Index (PMI) for the manufacturing sector recorded a level of 56.7 in January- a figure above 50 indicates growth. Although this was down from December’s 57.2, it still marks well above average growth in the sector. This was due to export orders rising to their highest level in almost three years based on improved demand from North America, Europe, Asia, Brazil and the Middle East.
In the Eurozone the Manufacturing Purchasing Managers’ Index (PMI) rose to 54 in January, its strongest month since May 2011. This compares to December’s figure of 52.7 and reflects the overall pickup in eurozone economic activity.