The UK’s manufacturing purchasing managers’ index (PMI) increased from 47.0 in Jan & the previous flash forecast of 49.2 to 49.3 in Feb 2023

The slowdown in intermediate goods makers persisted, but rates of fall in production & new business dropped to 7-month lows, according to the S&P Global/CIPS UK Manufacturing purchasing managers’ index (PMI) survey.

UK Economy in ‘Better Shape’

In Feb, there were also flexibility signals for the increase in new export business.

Just 10% of companies predicted a decline in production over the next 12 months, compared to over 60% who anticipated increasing production.

Although sub-sector statistics indicated that the progress was mostly focused on the category of intermediate products.

The increase in input prices in Feb was affect by the lessen strain on supply chains.