April saw a marked slowdown in the rate of expansion of the UK manufacturing sector. Output rose at the weakest pace since November last year, while the base of the upturn narrowed and became further skewed towards the consumer goods sector.
The seasonally adjusted Markit/CIPS Purchasing Manager’s Index® (PMI® ) posted 51.9 in April, a seven-month low and below the revised March reading of 54.0 (originally 54.4). The PMI has nonetheless remained above the neutral 50.0 mark, signalling expansion, for 25 consecutive months. The slowdown in the rate of increase of output occurred in juxtaposition with…
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