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UK manufacturing activity rose unexpectedly in March

UK manufacturing activity rose unexpectedly in March

Mubasher: UK manufacturing sector’s economic expansion grew slightly in March, against analysts’ forecasts, and reflecting a firm economic growth in the country.

UK manufacturing Purchasing Managers Index (PMI) edged up to 55.1 last month, compared with 55 in February, data by IHS Markit showed on Tuesday.

Economists, however, had expected a decrease towards 54.8 in March.

Meanwhile, output growth accelerated, while new orders’ expansion slows last month.

Both input costs and output price inflation also cooled in March, according to IHS Markit data.

By 08:53 am GMT, the GBP/USD pair climbed 0.26% to $1.4080.