The U.K. manufacturing sector growth slowed unexpectedly to an eight-month low in March, survey data from Markit Economics showed Tuesday.
The seasonally adjusted Markit/Chartered Institute of Purchasing & Supply Purchasing Manager's Index fell to 55.3 in March from 56.2 in February, signaling a further cooling of growth from the peaks scaled towards the end of last year.
The score was forecast to rise to 56.7 in March. Nonetheless, the above neutral 50 reading indicates expansion in the sector.
Manufacturers continued to scale up production at a solid clip in March. However, rates of increase for output and new business cooled further from the highs registered during the second half of last year.
Manufacturing employment increased for the eleventh consecutive month in March with the rate of jobs growth staying close to February's near three-year high.
March data signaled a moderation in price pressures. Average input costs fell for the first time in over one-and-a-half years and output charge inflation eased to a seven-month low.
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