UK PMI Manufacturing was finalized at 51.7 in February, up from January’s 50.0. Markit noted that output rose at the fastest pace since April 2019. Vendor lead times lengthened as supply-china disruption rose.
Rob Dobson, Director at IHS Markit, which compiles the survey: “Supply-chain disruptions were emerging rapidly, however, as the COVID-19 outbreak led to a substantial lengthening of supplier lead times, raw material shortages, reduced inventories of inputs, rising input costs and reduced export orders from Asia and China in particular… With supply-chain headwinds rising, and trade negotiations with the EU starting, it remains to be seen whether the recovery can stay on course during the coming months.”
