UK Manufacturing PMI: Industry downturn continues into Q2 but business optimism remains steadfast

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The UK manufacturing industry's downturn continued at the start of quarter two, with output and new orders both contracting, yet manufacturers remained optimistic about the year ahead, according to the latest S&P Global / CIPS UK Manufacturing PMI®.

April 2023 UK Manufacturing PMI key findings: Output and new orders contract Rate of job losses eases Manufacturers’ business optimism rises to 14-month high

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April saw the seasonally adjusted UK Manufacturing PMI hit a three-month low of 47.8, down slightly on March’s reading of 47.9 but above the previous flash estimate of 46.6. In April,…