By Daniel Hunter
The UK manufacturing sector lost considerable momentum during February, with output, new orders and employment all posting net reductions since January. Purchasing activity was also cut markedly, as manufacturers continued to signal a preference for lower stock holdings.
The seasonally adjusted Markit/CIPS Purchasing Manager’s Index (PMI) slipped below the neutral 50.0 mark in February, the first sub-par reading since last November. The PMI recorded 47.9, down from January’s 50.5.
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