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UK manufacturing PMI hits 13-month high in March

UK manufacturing PMI

U.K. manufacturing sector growth unexpectedly accelerated to a 13-month high in March, the Purchasing Managers’ Index data showed Monday.

Manufacturing PMI scored 55.1 last month from an upwardly revised of 52.1. Analysts had predicted a reading of 51.2.

“Manufacturers reported a surge of business activity in March as companies stepped-up their preparations for potential Brexit-related disruptions,” said IHS Markit.

In the euro area, the final manufacturing PMI came in at 47.5 in March, the sharpest contraction in six years, compared to February's reading of 49.3.

As of 09:04 GMT, the British pound rose for the first time in four sessions to $1.3087, noting that it recoded its second straight weekly decline last week amid Brexit uncertainty.

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