A carefully monitored poll has revealed that the manufacturing sector in the UK is growing again and is exhibiting “tentative signs of recovery”.
According to the news, March saw increases in output and new orders, as well as an 11-month high in company optimism.
The manufacturing purchasing managers index (PMI) score of the companies increased from 47.5 in February to a better-than-expected 50.3 last month.
Any number greater than 50 indicates expansion. The threshold was surpassed in March for the first time since July 2022, or 20 months ago, and this occurred as worries about the industry grew.
The study also revealed additional indications of stabilization, such as a substantial slowdown in the rates of employment and purchasing activity decline.
He did, however, issue a warning that, notwithstanding the impact, poor export performance and supply chain stress persisted.
