"With the February PMI manufacturing index coming in so weak and with orders numbers also disappointing it looks as though this sector is going to be a major drag on growth in the first quarter of 2013. We have already has poor construction numbers for the start of the quarter so the prospect of yet another return to technical recession is very real. This will intensify the pressure on the BoE to do more to help support the economy, given government officials suggest they have no intention of letting up on austerity," said James Knightley, U.K. economist in ING.