Monday, February 01, 2010
Exports lift manufacturing to 15-year high
Posted by David Smith at 12:00 PM
Category: Thoughts and responses

A good start to the year for UK manufacturing, with the Markit-CIPS purchasing managers' index at a 15-year high, lifted by strong exports. The index rose to 56.7 from an upward-revised 54.6 in December. Export orders were the strongest recorded. Good news. More here.

Bank of England data for December were less convincing, with mortgage approvals slipping from 60,045 to 59,023 and consumer credit up by 0.1 billion. Maybe we're seeing some rebalancing. M4 lending excluding intermediate OFCs (other financial corporations) rose by 9.1 billion in December, compared with a 15.6 billion rise in November. More on the Bank's website, www.bankofengland.co.uk.