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UK manufacturing index expansion slows

1 June 2011
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UK manufacturing index expansion slowsBritain's manufacturing industry is continuing to grow, but at a slower pace than in previous months, new figures show.

The latest Purchasing Managers' Index (PMI) for the sector reveals it fell in May to the lowest level recorded in 20 months, as performance weakened.

Compiled by Markit and the CIPS, the PMI stood at 52.1 last month, with any figure above 50 indicative of expansion, dropping from 54.4 in April 2011.

The organisations recorded a slight dip in both new orders and production, the first time such falls have been seen since mid-2009, with producers of consumer goods and smaller firms seeing the sharpest decline.

Operations management professionals are advised that the PMI has been higher than 50 for a total of 22 months in a row, but both export growth and domestic market conditions have contracted recently.

Markit senior economist Rob Dobson commented: "The UK PMI suggests that manufacturing has moved from rapid expansion to near-stagnation."

According to Markit, the Eurozone Manufacturing PMI dipped during May to a seven-month low of 54.6, falling from 58 in April, although the measure continued to expand as output and new orders continued to grow.ADNFCR-3058-ID-800563692-ADNFCR
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