The Chartered Institute of Purchasing and Supply's (CIPS) purchasing managers' index for UK manufacturing rose from 49.7 in December to 52.1 in January on a seasonally-adjusted basis. This return to expansionary territory followed three consecutive months at sub-50 levels which signal contraction.
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Unexpected growth boost for manufacturing sector
UK manufacturing activity increased unexpectedly in January, a survey has revealed, but economists warned it was far too early to conclude the overall economy might avoid further contraction and technical recession in the first quarter.
