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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/01/continued-growth-in-manufacturing.jpg"><img class="alignnone size-full" title="The manufacturing sector recorded its strongest performance for 16 years last month" src="http://londonglossy.com/wp-content/uploads/2011/01/min-continued-growth-in-manufacturing.jpg" alt="The manufacturing sector recorded its strongest performance for 16 years last month"/></a></p>
<p>The manufacturing sector has continued its stellar performance after it recorded its strongest performance for 16 years, boosting hopes of an export-led economic recovery.</p>
<p>The Chartered Institute of Purchasing &#038; Supply&#8217;s (CIPS) activity index, where a reading over 50 indicates growth, jumped to 58.3 in December, up from 57.5 in November, driven by strong orders from overseas.</p>
<p>But as VAT increased from 17.5% to 20%, the sector delivered fresh warnings that more price rises are in the pipeline after input costs rose at their fastest in the 19-year history of the survey. The steepest price hikes were reported in the textiles, clothing, food, drink, chemicals and plastics sectors.</p>
<p>It is the 17th month in a row that the manufacturing index has remained above 50 and the 19th month that production rose.</p>
<p>The sector also created new jobs for the ninth consecutive month, only slightly down from November&#8217;s record rate of job creation, fuelling hopes that the manufacturing sector can make up for job losses in the public sector caused by Government cutbacks.</p>
<p>Rob Dobson, senior economist at Markit and author of the survey, said: &#8220;The UK manufacturing sector saw a truly spectacular end to 2010.</p>
<p>&#8220;The latest data are consistent with manufacturing production rising at a quarterly rate close to 2%, which should generate a meaningful contribution from the sector to economic growth in the fourth quarter to offset likely weakness in other sectors.</p>
<p>&#8220;All of this points to manufacturing being a positive spur to economic recovery in the final quarter.&#8221;</p>
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