U.K. manufacturing growth accelerated in January as factories saw a pickup in domestic orders and the biggest decline in raw-material costs in almost six years. Markit Economics said its Purchasing Managers’ Index rose to 53 from a revised 52.7 in December. Measures above 50 indicate expansion. A gauge of input prices plunged to the lowest since May 2009. The report suggests the stimulus from cheaper commodity costs is feeding through to businesses. The oil-price drop is also easing price pressures across the economy, and Bank of England Governor Mark Carney said the inflation rate could fall below zero in the coming months. “The domestic market remains the main growth driver, as the U.K. economic recovery provides a steady stream of new business,” said Rob Dobson, an economist at Markit in London. “Waning inflationary pressures will provide the Bank of England with leeway to push back the first […]