U.K. Manufacturing PMI Falls Unexpectedly In December

(RTTNews) - U.K 's manufacturing activity expanded at a slower rate in December, defying expectations for faster growth, results of a survey by Markit Economics and the Chartered Institute of Purchasing and Logistics, or CIPS, showed Friday.

The seasonally adjusted Markit/ CIPS manufacturing purchasing managers' index, or PMI, fell to a three-month low of 52.5 in December from 53.3 in the previous month. Economists had forecast the index to rise to 53.6.

Any reading above 50 indicates expansion in the sector.

Production and new orders rose for the twenty-second consecutive month, though the growth rates eased to the slowest pace in around eighteen months.

Employment levels remained almost unchanged from the four-month high in November, increasing for the twentieth successive month.

Price pressures remained subdued in December.