Other News

‘Flat’ start to 2016 for manufacturers, says CBI

Manufacturers are having a “flat” start to the year, with only limited signs of a recovery in exports, new research has shown. The CBI said production and orders showed signs of stabilising in the last three months, but business optimism has fallen.

Oil & Gas

Manufacturing boosted by oil prices

Growth in Britain’s manufacturing sector ticked up at the start of the year as firms’ costs were eased by plunging oil prices, but it remains “stuck in a low gear”, figures showed today. The sector posted a better-than-expected reading of 53 on the closely-watched CIPS/Markit purchasing managers’ index survey for January - where 50 separates growth from contraction. It was up from 52.7 in December. Firms were aided by the slump in oil prices which fed through to the steepest drop in input costs for nearly six years and they also cut their selling prices for only the second time during the past five years.