UK S&P Global Manufacturing PMI Final (Jan) 51.8 vs. Exp. 51.6 (Prev. 50.6)

• "Rates of output and order book growth accelerated, while new export business rose for the first time in four years, with Europe, China and the US the main recipients."
• "Business confidence, which rose to its highest level since before the 2024 Autumn budget, as manufacturers focused on opportunities lying ahead despite persistent concerns about the geopolitical environment, Government policy and tariff tensions."
• "Cost pressures are creeping higher though, as the pass through of the increased Minimum Wage and employer NI contributions continue to work through the supply chain alongside the rising costs for commodities such as metals.”

The final January S&P Global Manufacturing PMI for the UK came in stronger than expected, indicating a rebound in manufacturing activity and solid business confidence. This trend suggests potential optimism for the UK's economic outlook, although rising cost pressures could temper growth expectations and influence future monetary policy decisions.