Manufacturing up in January

9th February 2010

Manufacturing activity expanded in January on the back of a lift in new orders and exports after a contraction in the last month of 2009. The PricewaterhouseCoopers performance of manufacturing index (PMI) rose by a seasonally-adjusted 2.5 points in December to 51.0. Readings above 50.0 indicate a rise in activity. The sector experienced renewed demand in the housing and resources sectors, particularly for companies involved in construction materials, transport equipment and petroleum and coal products. Overall activity expanded despite the first contraction in employment in three months.