UK Manufacturing Grows Slightly in April

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.