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British manufacturing PMI rises to 54.4 in March

Xinhua, April 2, 2015 Adjust font size:

British manufacturing purchasing managers' index (PMI), a gauge of industry activity, edged up to 54.4 in March 2015 from the revised 54.0 in February 2015, said Markit Economics Wednesday.

The data was in line with the market estimates consensus, and it has stayed above the neutral 50.0 mark since April 2013. A figure above 50 suggests that the sector is growing.

British manufacturers maintained their bright start of the year in March, with an average reading of 53.8, the best growth outcome since the second quarter of 2014, said the London-based survey compiler.

Manufacturing production expanded at the fastest pace in nine months during March, underpinned by the steepest gain in incoming new business since July 2014. Companies also reported improved order inflows from a broad range of markets including the United States, China, Germany, the Netherlands, Canada and the Middle East.

Over the same period, manufacturing employment increased for the 23rd consecutive month in March, with further job creation recorded at both small-and-medium-sized enterprises and large-scale producers, data showed.

Rob Dobson, senior economist at Markit, said: "The sector is on course for output growth ranging around 0.6 percent over the opening quarter as a whole, a positive contribution to broader economic expansion and its best performance since the first half of last year." Endit