Record rise in import costs dents growth in UK manufacturing
by Phillip Inman Economics correspondent from on (#2B2PQ)
Sector posts sixth month of expanding output despite record rise in costs, which are expected to increase further over 2017
A record rise in the cost of imports in January has taken the shine off a strong performance by the manufacturing sector, which has rebounded since the Brexit vote to record its sixth consecutive months of expanding output.
Manufacturers were forced to hike the cost of their goods by one of the widest margins in one month after the slump in the pound triggered a record rise in the cost of imports, according to the Markit/Cips purchasing managers survey.
Related: Weak pound sends UK factory costs soaring at record rate - business live
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