5/3, 10:30 AM (Source: TeleTrader)
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UK manufacturing growth accelerates in April

The growth in the United Kingdom's manufacturing sector accelerated in April, a report by S&P Global showed on Tuesday. The UK S&P Global/CIPS Purchasing Managers’ Index (PMI) stood at 55.8 in April up from 55.2 recorded in March.

"The improved expansion of output at manufacturers, while positive in itself, failed to mask the continued headwinds buffeting the sector at the start of the second quarter," Rob Dobson, director at S&P Global, stated. "New business growth near-stalled as a slowdown in the domestic market was accompanied by a further deterioration in export orders," he added.

The report showed that inflationary pressures continued to grow as 85% of companies reported an increase in purchase prices and no company reported a decline.

Baha Breaking News (BBN) / NP