2/21, 10:30 AM (Source: TeleTrader)
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UK manufacturing activity increases in February

The manufacturing sector's activity in the United Kingdom expanded further in February, with the seasonally adjusted manufacturing purchasing managers' index (PMI) standing at 51.9, IHS Markit said on Friday.

Manufacturing growth accelerated to the highest level in ten months, supported by a rebound in customer spending. New orders also increased, albeit at a slower pace compared to the prior month. Supplier delivery times experienced the sharpest month-on-month drop in nearly three decades, mainly due to the coronavirus outbreak, while pre-production inventories fell to the greatest extent since December 2012.

"Manufacturers noted that abrupt shortages of components from China had reverberated through their supply chains and led to difficulties sourcing critical inputs. The downward trajectory of the suppliers' delivery times index since January was the steepest since the survey began, exceeding the previous record set amid the UK fuel protests in September 2000," IHS Tim Moore Associate Director said in the press release.

Breaking the News / MD