United Kingdom: Manufacturing PMI highest in April

British manufacturing moved higher in April in the UK after slowing to a one-year low in March following Russia’s invasion of Ukraine, but companies are wary of the prospects as costs jump and demand falls.

S&P Global / CIPS manufacturing PMI rose 55.8 points in April from a 13-month low of 55.2 in March, a slightly higher gain than the 55.3% increase in initial estimates.

About 55% of processing companies expected production to increase next year, but this reflects the weakest prospects since December 2020.

“Reduced demand from the EU is linked to longer delivery times, customs controls and higher shipping costs after Brexit,” S&P Global said.

Higher prices also played a role in reducing demand from both domestic and foreign countries.

Source: Capital

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