January’s seasonally-adjusted CIPS/Reuters Purchasing Managers' Index (PMI) – a composite indicator designed to provide an overall view of conditions in the manufacturing economy – posted 56.0, remaining unchanged compared to December’s four year high. Once again, it was output and new orders that provided the main support to the headline index, although employment was also reported to have risen in January (at a similar rate to that recorded in December), and bottlenecks in the supply chain remained.
CIPS/Reuters Purchasing Manager’s Survey – at a glance
