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UK manufacturing output and new orders return to growth in March as domestic demand strengthens
The UK manufacturing sector showed tentative signs of recovery in March, as output and new orders increased following year-long downturns. There were also other signs of stabilisation from the latest survey data, with rates of contraction in employment and purchasing activity slowing sharply and business optimism about the year-ahead outlook hitting an 11-month high. The seasonally adjusted S&P Global UK Manufacturing Purchasing Managers’ Index™ (PMI®) rose to a 20-month high of 50.3 in March, up from 47.5 in February and above the earlier flash estimate of 49.9. This was the first time the PMI has posted ... (full story)