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Moderate Uptick in UK Manufacturing PMI

UK DATA
MNI (London)

UK FINAL APR MANUFACTURING PMI 55.8 (FLASH 55.3); MAR 55.2

FINAL MFG PRINT 0.5 POINTS STRONGER THAN FLASH

  • The April final print saw UK manufacturing growth improve more than expected to 55.8, picking up 0.8 points from March.
  • Output growth increased from the 5-month low seen in March, with intermediate and investment good industries seeing solid growth.
  • Increased new business, improved delivery and reduction of backlogs were underlying upwards growth drivers.
  • Outlooks managed to remain in positive territory, albeit the lowest seen in 16 months.
  • Cost inflation saw selling prices accelerate at new records, input costs were the second-highest in 30 years. Exports slumped due to weakened foreign demand, with the Ukraine war, China lockdown, Brexit and transportation dragging on business.

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