"U.K. manufacturers continued to raise production and employment in February, building on the solid foundation seen so far at the start of 2012"
- Rob Dobson, senior economist at Markit
U.K. manufacturing grew for a second month in February, adding to signs the economy could avoid recession this quarter. The factory gauge, based on a survey by Markit Economics and the Chartered Institute of Purchasing and Supply, fell to 51.2 from 52.0 in January, said Markit on Thursday.
"U.K. manufacturers continued to raise production and employment in February, building on the solid foundation seen so far at the start of 2012," Rob Dobson, senior economist at Markit, said in the statement.
"It's clearly a little disappointing that the PMI index dropped back this month," said David Tinsley, U.K. economist for BNP Paribas.
"It is a reminder though that the manufacturing sector's major customer remains other economies in Europe, and fairly lackluster growth there is a constraint on better performance for the sector overall."
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