Manufacturing index begins 2017 on ‘solid footing’

The seasonally adjusted Barclays Purchasing Managers’ Index (PMI) rose to 50.9 in January, up from 46.7 in December. “This was the first time since July 2016 that the index edged above the neutral 50-point mark, suggesting that the manufacturing sector started the year on a relatively solid footing,” the Bureau for Economic Research (BER), which compiles the PMI on behalf of Barclays, said earlier this month.