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UK manufacturing slips back into contraction as output and new orders both decline
The UK manufacturing sector showed renewed signs of weakness at the start of the second quarter. April saw output and new orders slip back into contraction territory following short-lived upturns in March, as uncertain market conditions, client destocking and supply-chain disruption (mainly relating to the Red Sea crisis) stymied opportunities for sustained expansion. The seasonally adjusted S&P Global UK Manufacturing Purchasing Managers’ Index™ (PMI®) fell to 49.1 in April, down from March's 20-month high of 50.3. Four of the five PMI constituents (output, new orders, employment and stocks of purchases) ... (full story)