PMI Release February 2012
13 February 2012
The January Bank of Scotland PMI report pointed to further increases in output, new business and employment in Scotland’s private sector economy. Moreover, the rates of growth were slightly faster than in the previous survey period. A further drop in input price inflation was also encouraging news for businesses, although average costs still rose markedly on the month overall.
At 51.4 in January, up from 51.2 in December, the Bank of Scotland PMI – a seasonally adjusted index monitoring activity across Scotland’s manufacturing and service industries – showed a moderate and slightly quicker increase in output at Scottish firms. Growth was underpinned by a rise in service sector activity, as goods production fell marginally on the month.