UK manufacturing is growing at its fastest pace for 16 years, according to a survey carried out by the Chartered Institute of Purchasing and Supply.

The CIPS activity index rose from 57.5 in November to 58.2 in December, in spite of disruption caused by poor weather conditions.

However, manufacturing costs also rose sharply, leading to speculation that the data could lead the Bank of England to consider a raise in interest rates.

Read the full story at www.bbc.co.uk…