United Kingdom Manufacturing PMI

The IHS Markit/CIPS UK Manufacturing PMI was revised slightly higher to 57.9 in December of 2021 from a preliminary of 57.6, pointing to further growth of production, new orders and employment in the manufacturing sector. New orders however, fell for a fourth straight month, amid a steep decrease at consumer goods producers weighed by logistic issues, Brexit difficulties and the possibility of further COVID restrictions. Meanwhile, inflationary pressures remained elevated with selling price inflation hitting a record high while input prices also rose sharply due to higher costs for chemicals, electronics, energy, food products, metals, timber and wood, freight, shipping and air transportation. Finally, companies remained optimistic amid expectations of renewed global economic growth, planned investment and hopes for less disruption caused by COVID-19, Brexit and supply chain issues.