Seeking Alpha

U.K. manufacturing activity accelerates

  • U.K. manufacturing PMI rose to 57.3 in April from 55.8 in March and comfortably topped consensus of 55.4.
  • Growth of output and new orders accelerated, while input prices dropped for a second consecutive month.
  • The data suggests manufacturing growth may top 1.5% in Q2. Jobs in the sector are being created at around 10,000 a month
  • However, there was another sharp slowdown in the growth of new orders for investment goods, which is a blow to the hopes of re-balancing the economy away from its reliance on consumers.
  • The pound takes a leap and is +0.2% at $1.6911, while the FTSE 100 is +0.4%. (PR)
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