U.K. manufacturing growth cools but economic rebalancing in sight


U.K. manufacturing PMI slipped to 56.7 in January from 57.2 in December and missed consensus of 57.

However,  improved domestic demand and rising export orders supported solid output growth, while employment increased for the ninth straight month.

The survey indicates that a "long-awaited rebalancing of economic growth may...finally be within sight," says Markit. "Recent months have seen the largest surge in demand for U.K. investment goods for two decades, while new export orders are rising at one of the fastest rates ever recorded by the survey as global demand also undergoes a broad-based upswing."

The FTSE 100 is -0.2%, while the pound is -0.4% vs the dollar. (PR)

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