FLASH: Recovering UK extraction masks Mfg output
- The UK’s manufacturing PMI dipped marginally further in February to 55.2, which was close to Consensus expectations. The trend rise in the sector may have slowed by 0.1pp to 0.2% m-o-m in recent months.- A temporary shutdown of a major pipeline is dominating IP moves, with a recovery driving a substantial rebound in January. Falling utilities output probably prevents a full IP recovery in January but flows in February support a strong quarter overall.
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