UK manufacturing shows modest growth

Despite the challenges facing the UK manufacturing industry, it has managed to grow modestly, according to April’s seasonally adjusted S&P Global / CIPS UK Manufacturing PMI, which rose from 55.2 in March to 55.8 in April.

This is now the 23rd successive month that the UK manufacturing industry has grown, according to the PMI, with 55% of manufacturers expecting this to continue over the year. What’s more, this growth has occurred across the consumer, investment and intermediate manufacturing sectors, although less so for consumer goods. Manufacturers reported higher production being due to reduced delivery delays, new business and backlog clearance.

In a statement, S&P Global Director Rob Dobson sounded a note of caution about the recent survey’s results, however:

“The improved expansion of output at manufacturers, while positive in itself, failed to mask the continued headwinds buffeting the sector at the start of the second quarter. New business growth near-stalled as a slowdown in the domestic market was accompanied by a further deterioration in export orders.”

Dobson also mentioned that the inflationary situation was becoming increasingly difficult, with input costs rising at the second-highest rate in the survey’s history. Indeed, no manufacturers reported a decrease in purchasing costs, while 85% reported rising costs.

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Industrial Lubricant
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