So Woppit before you get too excited, the whole article referred to;
Solid and accelerated increases in both output and new orders lifted the PMI to its highest level in close to five-and-a-half years in January, and perhaps more importantly above the 50.0 mark that distinguishes growth from contraction.
So subtly but critically different. The index rose to its highest level but only just crossed the growth/contraction marker. The actual growth was still low (but at least now in positive territory). And how was this achieved?
“Deflationary pressures persist, with firms lowering their prices again amid ongoing efforts to grow sales. A knock-on effect of this was a further squeeze on profitability, which in turn encouraged the advancement of productivity and more job losses.”
So no bed or roses by any means….still a good idea to read what is said before dishing a whole profession or two!!