U.K. manufacturing growth slowed for a second month in February and price pressures cooled, a sign that the effects of the pound’s drop may be easing.
IHS Markit’s Purchasing Managers Index fell to 54.6 from a revised 55.7, above the 50-mark dividing expansion from contraction but below economists’ expectations for 55.8.
The pound’s fall since the U.K.’s June referendum on European Union membership has had mixed effects for manufacturing, making goods cheaper for overseas buyers while also boosting costs for producers. A gauge of input prices slipped from a record high last month.
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