LONDON (dpa-AFX) – The situation in British industry improved somewhat more than expected in February. In February, the purchasing managers’ index for industrial companies rose by 0.5 points to 47.5 points, as the market research company S&P Global announced on Friday in London after a second estimate. Economists had expected the initial estimate of 47.1 points to be confirmed.
However, the sentiment indicator remains well below the so-called expansion threshold of 50 points, which indicates a contraction in economic activity.
“UK manufacturers faced challenging circumstances in February as the Red Sea crisis delayed raw material supplies, pushed up input prices and hit production capabilities,” commented Rob Dobson, director at S&P Global. Production volumes fell for the twelfth month in a row, while overall orders fell more sharply than at any time since October./jsl/jkr/stk