Plunge in oil price helps UK factories recover

Source: Bloomberg
As reported by Markit, the Manufacturing PMI for January stands at 53.0, while the previous reading was reported to be at 52.7. The drop in oil prices over the last seven months is likely to be positive for UK manufacturing and help economic recovery in 2015. Manufacturing output climbed 0.1% in the Q4 of 2014, compared with 1.1% quarterly growth at the beginning of the year. The oil price collapse is lowering the costs of input, thus helping companies during the weak growth in the Euro zone.
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