Chancellor George Osborne’s hopes of avoiding a triple-dip recession were bolstered today as Britain’s manufacturers ended 2012 on a high.
The Chartered Institute of Purchasing & Supply’s latest gauge of the health of the sector — where a score over 50 signals growth — hit 51.4 in December as manufacturers enjoyed their fastest expansion for 15 months.
The revival was driven by rising UK orders more than offsetting another fall in export orders. An eight-month run of job-shedding among manufacturers also looks like coming to a halt, the CIPS added. CIPS chief executive David Noble said: “While December’s figures do not reverse the disappointing performance over the year as a whole, manufacturers will hope that the solid upturn in production volumes is the first sign of a more stable footing going into 2013.”
