UK Manufacturing Slips to 13-Month Low in March

Source: Markit Economics

Manufacturing in the United Kingdom fell to its lowest level in 13 months in March, with all sub-components recording a decline during the month. EWU is up 0.39%.

• The seasonally adjusted UK Manufacturing Purchasing Managers’ Index stood at 55.2 in March, down from the three-month-high of 58.0 in February.
• New orders posted the slowest growth in the 14 months of expansion, as domestic demand fell and export orders declined.
• Input prices grew by a three-month high, extending the increase for the 28th straight month.
• Vendor lead times grew for the 33rd straight month to carve a historic high, but delivery delays fell to the lowest level in over a year.
• Employment grew for the 15th straight month, with increased hiring which reflected the growth in output and improved demand.
• Business optimism fell to a 14-month low on concerns about escalating geopolitical tensions, inflation, and shortages of labor.