UK manufacturing sees welcome growth in September

Manufacturing in the UK saw growth for the first time in three months in September, financial information services company Markit's latest survey has suggested.

The Markit/Cips manufacturing purchasing managers’ index (PMI) rose up to 51.5, above the vital figure of 50 which indicates growth.

This was well above predictions by economists of 48.6, which would have seen stagnation in the UK manufacturing industry.

In a further boost, August’s figure was revised upwards, from 49 to 49.4.

The news was a lot more positive than reported across the Eurozone, where the biggest contraction in two years was recorded, as the PMI was at 48.5 for September.

It wasn’t all good news though for the UK, with export orders contracting again and widespread job culls being seen as businesses look to restructure, particularly in the timber and paper and transport sectors.

The opening quarter for 2011 had also showed a bigger surge in growth in the manufacturing PMI. Consequently Rob Dobson, Markit economist, urged caution, "These data suggest that the positive contribution of manufacturing to the broader economic recovery is likely to remain modest, at best, through the remainder of the year.

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