Thursday, March 01, 2012
Manufacturing growth eases, house prices up
Posted by David Smith at 10:00 AM
Category: Thoughts and responses

Given the strength of recent manufacturing surveys, including the CBI's, the easing in the manufacturing purchasing managers' index from 52 in January to 51.2 in February was mildly disappointing. It underlined the fact that, with the eurozone in recession, growth is still a challenge for industry.

This was Markit's verdict: "UK manufacturers continued to raise production and employment in February, building on the solid foundation seen so far at the start of 2012. This raises hopes that the sector will post an expansion over Q1 as a whole, or at least improve on the disappointing 0.9% contraction seen at the end of last year."

Earlier, the Nationwide reported a 0.6% rise in house prices in February, for a rise of 0.9% on a year earlier. Prices are 10.6% lower than their autumn 2007 peak in cash terms, and 22.6% lower in real terms. More here.