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Eurozone Manufacturing PMI Slightly Down, U.K. Manufacturing PMI Up

According to financial information service provider IHS Markit, the purchasing managers’ index (PMI) for the manufacturing sector in the eurozone was 58.2 in February, slightly down from 58.7 in January and below the preliminary reading of 58.4.

The PMI index continues to rise above the 50 mark, indicating that the manufacturing sector in the eurozone as a whole continues to expand.

Despite a slight decline in the figures, demand in the eurozone remains strong. The problem of supply chain stagnation started to improve. Even though factories and consumers are struggling with rising product prices.

The U.K. manufacturing Purchasing Managers’ Index (PMI) reached 58.0 in February, the highest level in three months and above 57.3, the baseline value from January.

U.K. manufacturing PMI rises above preliminary data. This is due to the increase in employment volumes, reflecting strong domestic demand. In addition, the manufacturing sector was supported by the easing of Covid 19 measures and improving market conditions.

Export sales fell slightly. U.K. manufacturing sees this as a result of Brexit, coupled with other countries still applying COVID-19 containment measures.

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