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Investing.com -- British factories faced another challenging month in January, as production, new orders, and employment all decreased.
This comes as companies are grappling with increased costs, even before the rise in payroll taxes and the minimum wage set to take effect in April.
The S&P Global Purchasing Managers’ Index for UK manufacturing, which separates growth from contraction, stayed under the 50-mark for the fourth consecutive month.
However, the pace of contraction has eased slightly. The index rose to 48.3 in January from 47.0 in December, a minor improvement from the preliminary estimate for January of 48.2.
Confidence in the sector rose only marginally from December’s two-year low. The survey’s measure of staffing saw the largest drop since February of the previous year.
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