Tuesday, February 01, 2011
Booming manufacturing
Posted by David Smith at 09:40 AM
Category: Thoughts and responses

The purchasing managers' index for manufacturing is a welcome antidote to recent gloom, rising to a record 62 from an upward-revised 58.7 in December. Though there are also inflationary pressures affecting the sector (input costs rising at a record high), this suggests industry is firing on all cylinders, with new orders and employment also rising at record rates.

In contrast, the Nationwide said house prices slipped by 0.1% in January, and were 1.1% lower than a year earlier.