Ekonomické zprávy

UK manufacturing PMI fell to a 3-month low in April

The latest survey from S&P Global/CIPS showed that activity in the manufacturing sector continued to decline in April, which was due to a further drop in production and new orders.

UK manufacturing PMI fell to 47.8 points from 47.9 points in March, while economists had expected a decline to 46.6 points. The index remains below 50 points, which indicates a reduction in activity in the sector, since August 2022.

The data showed that all five of the PMI components signaled a determination in operating conditions. Output, new orders, employment and stocks of purchases all contracted and vendor lead times improved (a sign of weaker demand for inputs hurting suppliers). Manufacturing production declined again, but the rate of decline slowed slightly compared to March. Meanwhile, new orders declined at the fastest pace in three months, driven by growing customer uncertainty, shrinking customer inventory and cost control efforts. New export orders declined for the 15th month in a row, with the pace of decline accelerating compared to March. The data also pointed to a further drop in employment in the manufacturing sector (for the seventh month in a row), but the rate of decline was the weakest in 7 months. Although current conditions remained subdued, manufacturers maintained a positive outlook in April. Optimism rose to a 14-month high, with over 61% of companies reporting that they expect output to rise during the coming year. As for the inflationary situation, rates of increase in average input costs and output charges both eased in April, falling to 35- and 28-month lows respectively.

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