British manufacturers enjoyed one of their best months since Labour came to power in January, according to a closely watched survey, adding to signs that the Bank of England will decide to keep interest rates on hold this week. The purchasing managers’ index (PMI), which measures activity in the private manufacturing sector, rose to 51.8 in January from 50.6 in December, the best reading since August 2024. Any reading above 50 represents growth. The monthly survey of about 650 manufacturers showed new export orders rose for the first time in four years in January, while optimism about the year ahead
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