Lloyds Bank’s UK Sector Tracker found more UK sectors reported an increase in output in February than at any time in the past 10 months.
Of the 14 sectors monitored by the tracker, 11 saw output expand in February – compared with six in January – the highest number since April 2022.
Output growth across sectors was supported by increasing numbers of new orders, with 10 of the 14 sectors seeing new order volumes expand last month.
Increasing customer confidence amid weaker inflation helped drive the rise in demand, Lloyds said, and the number of businesses across the economy linking lower orders to higher prices almost halved month-on-month.
