Overall activity level reached its highest level in nine months; The Services PMI was unchanged at 54.3, while the Manufacturing PMI rose marginally to 47.1.
The UK composite Purchasing Managers' Index (PMI), which includes the manufacturing and services sectors, rose from 52.9 in January to 53.3 in February, reaching a nine-month high. According to preliminary data released on Thursday (22) by S&P Global in partnership with CIPS.
The result was higher than the expectations of analysts who expected the composite PMI to stabilize this month at 52.9.
The UK Services PMI in February was unchanged from the previous month, at 54.3, but beat the LSEG consensus by falling to 54.1.
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The UK manufacturing PMI rose marginally from month to month, from 47.0 to 47.1, but disappointed expectations of an increase to 47.5. Readings below 50 indicate expansion in activity and numbers below that indicate contraction.
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