UK manufacturing PMI almost broke all-time record in April
The UK manufacturing PMI (Purchasing Managers’ Index) came close to setting an all-time record in April when it hit 60.9 – its highest level since July 1994, when it hit a peak of 61.
The monthly survey, compiled by IHS Markit and CIPS, reveals that the growth of output and new orders were among the best for seven years, but the sector is still suffering from supply-chain delays and input shortages, leading to increased purchasing costs and record selling price inflation.
UK manufacturing output increased for the 11th successive month during April. The survey attributes this to a loosening of lockdown restrictions, improved demand and rising backlogs of work. Employment in the sector rose for the fourth successive month.
Underpinning the expansion of production was a marked improvement in new business. New orders rose for the third month in a row, due largely to a further revival of domestic market conditions. Stronger client confidence, the re-opening of parts of the economy, and improving global market conditions, all contributed to sales growth.
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