Mumbai, Feb. 21 -- February data signaled another marginal rise in UK private sector output. Higher levels of service sector activity helped to offset a solid reduction in manufacturing production.
However, sales pipelines remained subdued as total new work decreased for the third month running and at the fastest pace since August 2023. Private sector firms indicated a further steep decline in staffing numbers, largely in response to higher payroll costs and weak demand.
The latest fall was the sharpest since November 2020. Strong wage pressures meanwhile contributed to the fastest increase in average cost burdens for 21 months in February.
At 50.5 in February, the headline seasonally adjusted S&P Global Flash UK PMI Composite Output Ind...