Market news

Show news:


01.02.2021 17:48

UK manufacturing upturn constrained by COVID-19 restrictions and supply-chain disruptions

According to the report from IHS Markit/CIPS, the upturn in the UK manufacturing sector slowed sharply at the start of 2021. Output growth eased and new orders fell slightly as producers faced weaker inflows of new export work and temporary supply-chain disruptions caused by COVID-19 restrictions and transport delays (especially at ports) following the end of the Brexit transition period.

The seasonally adjusted Purchasing Managers’ Index fell to a three month low of 54.1 in January, down from December's three-year high of 57.5. Declining new order intakes and a steep reduction in input stocks both weighed on the PMI level.

The main positive influence on the PMI was a marked lengthening of supplier lead times, which (apart from April 2020) was the greatest registered in the near 30-year survey history. Although this is usually a signal of stronger demand resulting from economic growth, the recent trend in vendor performance has mainly reflected supply-chain disruptions caused by COVID-19 restrictions and the end of the Brexit transition period.

Manufacturing output increased for the eighth successive month in January. However, the rate of expansion slowed to its joint-weakest during that sequence, as total new order intakes fell slightly due to lower intakes of new export business. Companies reported that the national lockdown, end of the Brexit transition period, client closures and renewed uncertainty at the start of the year all contributed to the decrease in new orders. There were also reports of EU-based clients having already brought forward purchasing to avoid expected disruption. Sector data indicated that consumer goods was the weakest performing sub-industry in January, seeing steep drops in both output and new orders. In contrast, the intermediate and investment categories saw continued expansions. Small manufacturers meanwhile saw output and new orders fall, in contrast to upturns at medium- and large-scale producers. Manufacturing employment rose for the first time in a year during January, in part reflecting efforts to combat rising levels of work-in-hand at several companies. However, the rate of job creation was only marginal.


Keep up with latest Forex market news updates: Currencies, central banks, economic indicators for oil and gold trading – all you need to work effectively on Forex.

April 2021
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002
Mon
Tue
Wed
Thu
Fri
Sat
Sun
19
20
21
22
23
24
25
26
27
28
29
30

Forex is open 24 hours a day, 5 days a week (except national holidays), and it can be broken up to the following four regional markets: Australia and Oceania, Asia, Europe, and America. A Forex trading session opens at 23:00 GMT on Sunday in Japan and closes at 22:00 GMT on Friday in the USA.

 
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Pacific Wellington 19:00 04:00 22:00 07:00 22:00 07:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Sydney 21:00 06:00 00:00 09:00 00:00 09:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Asian Tokyo 23:00 08:00 02:00 11:00 02:00 11:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Hong Kong, Singapore 00:00 09:00 03:00 12:00 03:00 12:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
European Frankfurt, Zurich, Paris 06:00 15:00 09:00 18:00 9:00 18:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenCloseе
London 07:00 16:00 10:00 19:00 10:00 19:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
American New York 12:00 21:00 15:00 00:00 15:00 00:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Chicago 13:00 22:00 16:00 01:00 16:00 01:00