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UK Manufacturing Grows Slightly in April

May 3, 2022 by Forex Winner Leave a Comment

manufacturing grows

Source: Markit Economics

Manufacturing in the United Kingdom posted a slight improvement in April, marking an improvement in consumer, intermediate, and investment goods industries. EWU is up 1.62%, while EZU is up 0.80%.

  • The S&P Global/CIPS UK Manufacturing Purchasing Managers’ Index stood at 55.8, slightly higher than 55.2 in March and higher than the earlier estimate of 55.3.
  • Firms reported higher production, driven mainly by a jump in intakes of new business, reduced delivery delays, and efforts to ease work backlogs.
  • New growth orders declined to their weakest in 15 months, dragged by lower new business exports and the hit of selling price increases.
  • Output charges increased to a record high, with nearly 61% of firms indicating an increase in the selling process.
  • Employment increased for the 16th straight month, in response to the higher production and increased order backlogs.
  • Purchasing activity grew for the 15th consecutive month, as firms indicated higher buying inputs in anticipation of expected price rises.

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Filed Under: Forex News Tagged With: Manufacturing, UK

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