The seasonally-adjusted Purchasing Managers’ Index (PMI- a composite indicator designed to an overall view of the manufacturing economy), signalled marginal growth of manufacturing activity in February for the first time in twelve months. Designed to provide an overall view of conditions in the manufacturing economy, the headline indicator rose fractionally above the critical no change mark of 50.0 for the first time since last February, recording 50.1 compared to 46.5 last month. UK manufacturing firms reported strong growth of output and order books compared to the previous month.
February Purchasing Mangers’ Survey