UK Manufacturing Closes 2021 With Slight Decline

Source: IHS Markit

Manufacturing in the United Kingdom posted a slight decline in December, dragged down by logistic disruptions and staffing concerns during the month. EWU is up 0.03%.

• The seasonally adjusted IHS Markit/CIPS Purchasing Managers’ Index fell to 57.9 in December from the three-month high of 58.1 in November.
• The decline came amid the continued constraints hounding the supply chain, along with the weak export performance which hit production.
• New export business remained negative, amid the decline in new work from overseas for the fourth straight month, bringing consumer goods production down.
• Capacity constraints were indicated as outstanding business expansion eased to the lowest level since February.
• Average input prices posted substantial increases, with the inflation rate hitting historic highs with higher prices of chemicals, electronics, energy, food products.
• IHS Markit Director Rob Dobson said the latest figures indicate that the situation is stabilizing as delivery times have lengthened at the weakest pace in a year.