UK Manufacturing Grows for 1st Time Since July 2022: Analysis

Published on April 3, 2024

The UK manufacturing sector recovered in the first quarter of the year, returning to growth for the first time since July 2022, analysis has found. Manufacturing output grew in March, reaching the 50.3 mark in the Purchasing Managers’ Index (PMI), which measures business conditions. Conditions for new orders, output, and suppliers’ delivery times improved during March, according to a survey by S&P Global UK Manufacturing, a financial intelligence provider. This is the first time the PMI climbed above the neutral 50.0 mark after an over 19-month slump. Growth in the consumer goods sector offset downturns in the intermediate and investment goods categories. UK manufacturing production was on the rise for the first time since February 2023....

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