Recording a level of 52.1 in February, the seasonally adjusted Purchasing Managers’ Index (a composite index designed to provide an overall view of the manufacturing economy) signalled manufacturing growth for the fourth successive month. The index rose slightly for the second month running, signalling the strongest growth since January 2000.
The recent expansion indicated by the PMI reflected sustained growth of manufacturing out put and new orders, reflecting the relative buoyancy of domestic demand.
Source: Chartered Institute of Purchasing and Supply
