Data released by the UK market research firm Markit shows that the UK Manufacturing Purchasing Managers' Index (PMI) for February was 56.9, higher than the revised figure of 56.6 in the previous month. This marks the 11th consecutive month that the index has remained above the 50-point threshold, which separates industry expansion from contraction, indicating a sustained recovery in the country's manufacturing sector.
The data indicates that all components of the manufacturing PMI performed well in February, including manufacturing output, new domestic and foreign orders, new export orders, and new industry jobs. Notably, the number of new jobs in the manufacturing sector reached a 33-month high, marking the 10th consecutive month of growth.
Rob Dobson, a senior economist at Markit, believes that the latest data shows the UK manufacturing sector has successfully withstood the impact of recent floods and storms in some regions, and also suggests that the UK economy will maintain a rapid growth momentum in the first quarter.
Samuel Tombs, Chief UK Economist at the economic analysis firm Capital Economics, also stated that the UK manufacturing sector has maintained strong growth momentum since the beginning of this year, and it is expected that the sector's output will grow by 1.5% or more quarter-on-quarter in the first quarter.