News
UK Manufacturing Sector Continues To Grow In March
03 - 04 - 2012
The UK's manufacturing sector grew in March for a fourth consecutive month, data released on Monday shows.
March also exhibited the fastest growth in the sector for 10 months.
The Markit/CIPS Purchasing Managers' Index (PMI) for manufacturing rose to from 51.5 in February to 52.1 in March. A reading above 50 implies growth.
February’s reading was also revised from 51.2 up to 51.5.
The data showed that new orders rose at their quickest pace for a year in March, although the output was also boosted by clearing backlogs of existing work.
The data is an encouraging sign that the UK economy grew in the first three months of 2012 and avoided a recession.
Construction firms also reported the first increase in overall staffing levels in three months in March.
The PMI figures for the service sector will be released on Wednesday.
