Prior 54.0Manufacturing PMI 52.0 vs 51.5 expectedPrior 51.8Composite PMI 53.9 vs 53.2 expectedPrior 53.7<\/p>\n
Key Findings:<\/p>\n
Rebound in UK private sector business activity
\ncontinues in February, but job losses persist<\/p>\n
Comment:<\/p>\n
Chris Williamson, Chief Business Economist at S&P
\nGlobal Market Intelligence:\n<\/p>\n
\u201cThe early PMI data for February bring further signs of an
\nencouraging start to the year for the UK economy. A solid
\nrise in output across manufacturing and services has been
\nreported in both January and February, with the rate of
\nexpansion gaining pace. The survey data so far this year
\nare consistent with GDP rising by just over 0.3% in the first
\nquarter if this performance is sustained into March.\n<\/p>\n
\u201cThe upturn continues to be led by the service sector but
\nthere are signs that manufacturing is regaining momentum
\nto join in the recovery, reporting a surge in export orders of a
\nmagnitude not seen since the pandemic.\n<\/p>\n
\u201cDespite enjoying higher demand for goods and services,
\ncompanies remain focused on boosting productivity to cut
\ncosts, resulting in yet another month of steep job losses to
\nprolong the continual jobs downturn that was initiated by
\nthe 2024 autumn Budget.\n<\/p>\n
\u201cHigher staffing costs, often attributed to Budget policy
\nchanges, meant service sector inflation remained
\nelevated. However, increased competition, especially in the
\nmanufacturing sector, is helping keep a lid on inflationary
\npressures.\n<\/p>\n
\u201cBank of England policymakers will be encouraged by the
\nindications of stronger economic growth, but the relatively
\nmodest price pressures being signalled and ongoing
\nworrying labour market weakness will likely result in a
\ngrowing call for further rate cuts.\u201d<\/p>\n
UK Composite PMI<\/p>\n","protected":false},"excerpt":{"rendered":"Prior 54.0Manufacturing PMI 52.0 vs 51.5 expectedPrior 51.8Composite PMI 53.9 vs 53.2 expectedPrior 53.7 Key Findings: Rebound in…\n","protected":false},"author":2,"featured_media":115517,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[138,219,111,139,69],"class_list":{"0":"post-293867","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-new-zealand","11":"tag-newzealand","12":"tag-nz"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/293867","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=293867"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/293867\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/115517"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=293867"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=293867"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=293867"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}