U.K. manufacturing activity accelerates

|By:, SA News Editor

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)