UK PMI Falls to 50.8
The index fell slightly from 51.2 to 50.8.
This isn't too far out of line with expectations.
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.