UK Manufacturing Growth Slows In April
Wednesday, 02 May 2012 | 00:00
The UK's manufacturing sector growth slowed in April amid sharp decline in new export orders, a survey by Markit Economics revealed Tuesday.
The Markit/Chartered Institute of Purchasing & Supply (CIPS) purchasing managers' index for the factory sector fell to 50.5 in April from a revised 51.9 in March. Economists expected a reading of 51.5, down from March's initial score of 52.1.
An index reading above 50 indicates expansion of the sector. The PMI has signaled growth in each of the past five months, the report said.
Total new orders fell slightly for the first time in five months in April. New export business fell at the steepest since May 2009, due to weaker demand from mainland Europe, the US and East Asia.
Manufacturing output expanded for the fifth month running in April, but the rate of increase eased to its weakest in the year-to-date.
Source: RTT News
There are no comments available.