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UK's manufacturing output down in March

UK's manufacturing output down in March
Despite negative results, manufacturers report improving conditions related to lower inflation, S&P Global's report says

By Gokhan Ergocun

ISTANBUL (AA) - The UK's manufacturing output index at two-month low level with 49 in March, down from 50.9 in February, data provider S&P Global said.

The country's purchasing managers index (PMI) for the manufacturing sector was also at two-month low level in the month with 48, S&P Global's report showed on Friday.

Despite negative results, manufacturers report improving supply conditions related to easing input inflation figures and lowering commodity prices.

"With the flash PMI surveys signaling a second month of rising output in March, the UK economy looks to have returned to growth in the first quarter," Chris Williamson, chief business economist at S&P, said.

The improvement in order book growth suggests that a recession in the near future has been avoided, Williamson noted, adding: "And an upturn in companies' expectations for the year ahead indicates that business sentiment has been little affected so far by the banking sector woes and that firms are more focused on growth possibilities."

source: News Feed
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