The end of 2018 saw a further modest improvement in business conditions in the UK manufacturing sector. At 54.2 in December, the seasonally adjusted IHS Markit/CIPS Purchasing Managers’ Index® (PMI®) rose to a six-month high, up from 53.6 in November. The average PMI reading during quarter four of 2018 was the weakest since Q3 2016 (the quarter containing the first survey conducted after the EU referendum). The average posting during 2018 (53.9) was also below 2017 (55.9). The rise in the PMI level during December was mainly driven by stronger inflows of new business and a solid increase in stocks of purchases. ... (full story)