LONDON, Feb. 1 (UPI) -- Domestic and foreign demand growth pushed an index of manufacturing activity in Britain to a record high in January, a research group said Tuesday.
The Chartered Institute of Purchasing & Supply, which tracks Britain's Purchasing Manager's Index, said the PMI for January reached 62, up from December's 59.6. Numbers above 50 indicate growth.
Manufacturing production rose for the 20th consecutive month in January, "underpinned by faster inflows of incoming new work," the Markit/CIPS report said.
Employment increased for the 10th consecutive month, but "inflationary pressures continued to build in January with substantial increases signaled for both input costs and factor gate prices," CIPS said.
Tuesday's report "confirm(s) that the (manufacturing) sector remains one of the brighter spots of the U.K. economy," said Rob Dobson, senior economist at Markit.
David Noble, chief executive officer at the Chartered Institute of Purchasing and Supply said: "U.K. manufacturing steamed ahead in January, as the sector continues to expand quicker than even the most optimistic amongst us could have predicted."
"This is the much needed kick start to 2011 everyone in the sector was hoping for," he said.
