Manufacturing expands at fastest rate for 19 years

The CIPS Purchasing Managers' Index, where any measure above 50 indicates expansion, increased from 58.7 in December to 62 in January - marking the biggest increase since records began 19 years ago. In addition, the CIPS survey suggests employment in the sector also increased at the most rapid pace since 1992. The figures serve to underline the strength of the manufacturing sector and its importance to the recovery as other sectors struggle and economic growth slows. In the final quarter of 2010, GDP contracted 0.5% and should growth fall again in Q1 the UK will technically enter r...