UK PMI Falls to 50.8

buckingham palace

Photo: Courtesy of The Official Website of the British Monarchy

UK PMI isn’t going to move markets much.The index fell slightly from 51.2 to 50.8.

This isn’t too far out of line with expectations.

From the report:

UK manufacturing production continued to expand  at the start of 2013, following a further increase in  new orders and ongoing efforts to clear backlogs of  work. The labour market also continued to stabilise  following the job losses seen through much of the  middle of last year.     At 50.8 in January, edging lower from December’s  15-month high of 51.2, the seasonally adjusted  Markit/CIPS  Purchasing Manager’s Index ®   (PMI ® )  remained above the neutral 50.0 mark for the  second month running.   Manufacturing output expanded at the fastest pace  since September 2011.

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