In our last round-up of 2024, November manufacturing PMI signalled a second month of contraction in the sector, reflecting uncertainty felt by manufacturers following the UK budget, US elections and global geopolitical tensions. UK Inflation increased in October, although this was largely anticipated due to Ofgem’s 10% energy price cap increase. Combined with slightly faster-than-anticipated wage growth, it is unlikely that the BoE will ease monetary policy again this year. Policy is still likel ....