UK Factory Growth At 2-month Low
01 Mayo 2019 - 12:20AM
RTTF2
UK manufacturing expansion slowed to a two-month low in April
amid a decline in export business and an easing in the robust pace
of stock-building, survey data from IHS Markit showed on
Wednesday.
The IHS Markit/CIPS Purchasing Managers' Index, or PMI, fell to
53.1 in April from March's 13-month high of 55.1. The score was in
line with economists' expectations.
A PMI reading above 50 suggests growth in the sector.
"Alongside weaker growth in production, new orders and stocks of
purchases, the lower PMI level also reflected job losses in the
sector," IHS Markit said.
Export orders decreased at the second-fastest pace in
four-and-a-half years.
"The trend in new export business was especially weak, as high
stock holdings at clients and slower global economic growth led to
reduced demand from key markets such as the European Union, the USA
and China," Rob Dobson, Director at IHS Markit, said.
"There were also reports of overseas clients acting now to
re-route their supply chains away from the UK in advance of
Brexit."
The six-month delay in Brexit led to the slowing in the pace of
stock-building of inventories of both inputs and finished
products.
Meanwhile, business optimism hit a seven-month high despite
ongoing concerns over Brexit.
Both input and output prices rose in April, but the rates of
increase were weaker than in March.
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