(HIS Markit) The UK recorded a Composite Output Index of 60.2 in February, the highest in eight months, as activity earned boosts from looser Covid-19 restrictions.
The services sector got the most boost in February, with the activity index climbing to an eight-month high of 60.8, from 54.1 the previous month.
The Manufacturing Output Index reached a seven-month high of 56.7, from January’s 54.5. The Manufacturing PMI was unchanged from January at 57.3.
Firms had steep rises in incoming new work, with the rate of order growth rising at the fastest in eight months.
Employment increased again, with the overall job growth at the fastest since October as firms hired to address workloads amid favorable growth expectations.
Input cost inflation saw an acceleration in February and was close to record high in November. Output charges rose but were slower compared to the record high of January.
Although supply chain bottlenecks eased, the Suppliers’ Delivery Times were cited as severe headwinds by manufacturing firms.
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