Elliott Jordan-Doak, an analyst at Pantheon Macroeconomics, said that UK manufacturing activity is expected to rise gradually in the coming months. Although it fell short of widespread market expectations, the UK’s December manufacturing PMI rose to 50.6 from 50.2 the previous month, reaching a 15-month high. Jordan-Doak noted that easing policy uncertainty following the budget, a rebound in activity after the Jaguar Land Rover cyberattack, and improved external demand have boosted market sentiment. He said, “Most sub-indices of the December manufacturing PMI showed improvement, giving us reason to be optimistic that economic activity will continue to improve in the first quarter. "Nevertheless, high borrowing costs and further tariff uncertainties are likely to continue weighing on economic activity in 2026. "As a result, the PMI may soon peak."