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UK manufacturing hits 20-month low
The UK’s manufacturing sector grew at its weakest pace in almost two years in May, a survey suggests.
The Markit/CIPS UK manufacturing purchasing managers’ index (PMI) fell to 52.1 last month from a downwardly-revised 54.4 in April.
Any reading above 50 indicates growth in the sector.
UK manufacturing has been one of the best performing sectors of the economy since the recession, but recent figures suggest growth is slowing.
“The UK PMI suggests that manufacturing has moved from rapid expansion to near stagnation,” said Rob Dobson, senior economist at Markit.