British manufacturing PMI rises to 9-month high
Xinhua, March 2, 2015 Adjust font size:
British manufacturing purchasing managers' index (PMI), a gauge of the industry activities, edged up to 54.1 in February 2015 from the revised 53.0 in January 2015, registering the nine-month high of the reading, said Markit Economics Limited on Monday.
The data was above the market estimates consensus of 53.3, and it has remained above the neutral 50.0 mark in each month since April 2013. A figure above 50 suggests that the sector is growing.
The growth rate of British manufacturing sector continued to strengthen at the start of 2015, leading to further job creation, said the London-based market researcher.
Growth was led by the consumer goods industry, although solid expansions in output were also registered at intermediate and investment goods producers, it said.
Manufacturers reported a further improvement in new order inflows during February, underpinned by rising volumes of new business from domestic based clients.
In contrast, export performance deteriorated for the fourth time in the past five months, reflecting subdued conditions in key markets and the sterling exchange rate, data showed.
The rate of jobs growth accelerated to a three-month high, and average purchases prices fell at a substantial pace that was slightly less marked than January's 68-month record, figures also showed. Endit