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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/uk-manufacturing-hits-16year-high.jpg"><img class="alignnone size-full" title="Manufacturers have fuelled hopes they will play a role in the UK's recovery" src="http://londonglossy.com/wp-content/uploads/2010/12/min-uk-manufacturing-hits-16year-high.jpg" alt="Manufacturers have fuelled hopes they will play a role in the UK's recovery"/></a></p>
<p>Manufacturers have fuelled hopes they will play a role in the UK&#8217;s recovery after posting the sector&#8217;s fastest rate of growth in 16 years last month.</p>
<p>The Chartered Institute of Purchasing &#038; Supply&#8217;s (CIPS) activity index, where a reading over 50 indicates growth, had been expected to fall back but instead jumped to 58, up from September&#8217;s 10-month low of 53.5 and October&#8217;s 55.4.</p>
<p>Employment rose at its quickest pace since the survey began in 1992 as a result of stronger demand led by new export orders. Companies&#8217; order books are also looking strong, offering hope that the growth will continue.</p>
<p>Report author Rob Dobson, a senior economist at Markit, said November&#8217;s figures were welcome news given the UK&#8217;s need to rebalance the economy towards exports in the face of an anticipated slowdown in consumer spending.</p>
<p>Exports have been boosted by the pound&#8217;s drop against most currencies, making it cheaper for overseas countries to import goods manufactured in the UK.</p>
<p>However, there were warnings about the impact of significant price hikes in raw materials, which will lead to inflation and could dampen demand.</p>
<p>David Noble, chief executive of CIPS, said the next few months will be far from an easy ride for manufacturers.</p>
<p>&#8220;Increased purchasing activity is adding to input cost inflation, which is likely to continue rising for the foreseeable future,&#8221; he added.</p>
<p>According to the report, manufacturers expect modest growth in output in the next three months, although with inflationary pressures intensifying the confidence of firms is the weakest since January.</p>
<p>The Government&#8217;s Office for Budget Responsibility this week lowered growth in 2011 and 2012 from 2.3% to 2.1% and from 2.8% to 2.6% respectively.</p>
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