. home.aspx

NEWS

home.aspx
   


UK factory output keeps economy on track in February

February 21, 2020 / DANIEL BRIGHTMORE
SHARESHARESHARE

British businesses kept up a solid rate of growth in February as factories posted the fastest rise in output for 10 months, despite ripples from China’s coronavirus outbreak affecting supply chains. The flash early readings of the IHS Markit/CIPS UK Purchasing Managers’ Index (PMI) showed the expansion of Britain’s vast services sector slowed slightly this month, but this was cancelled out by an unexpected upturn in manufacturing, reports Reuters. Britain’s performance bettered the euro zone’s for the second month running, as the PMI suggested the world’s fifth-largest economy looked on track to grow around 0.2% in quarterly terms after it slowed to a crawl late last year.  The composite PMI, which combines manufacturing and services indexes, held steady at 53.3 in February, jointly the highest reading since September 2018 and beating the consensus forecast of 52.8 in a Reuters poll of economists. The survey chimed with other gauges which show t...