The S&P Global UK Manufacturing PMI edged up to 52.0 in February 2026 from 51.8 in January, surpassing market expectations of 51.5, according to a preliminary estimate. This reading indicates the strongest expansion in the sector since August 2024, underpinned by the fastest output growth in 17 months.
New orders accelerated, supported by the sharpest increase in export demand in four-and-a-half years, with firms reporting stronger sales to the US, Europe, and Asia. Despite this, both employment levels and backlogs of work continued to decline, pointing to ongoing labor market and capacity adjustments within the sector.
On the price front, input costs and output charges both rose sharply, signaling renewed inflationary pressures along the supply chain. Nonetheless, business confidence strengthened, with optimism reaching a one-and-a-half-year high, driven by expectations of more robust exports and further international expansion.
