LONDON – British factory output and new orders contracted at the start of the second quarter of 2023, but manufacturers were more optimistic and input costs rose at the weakest rate since May 2020, an industry survey showed on Tuesday. The final S&P Global/CIPS UK manufacturing Purchasing Managers' Index (PMI) fell to a three-month low of 47.8 in April from 47.9 in March, still below the 50 threshold for growth though higher than the provisional, 'flash' reading of 46.6. 'Output and new orders contracted, as manufacturers felt the impacts of client uncertainty, destocking and tightening cost controls,' Rob Dobson, director at S&P Global Market Intelligence.

https://business.inquirer.net/398868/uk-factory-activity-shrinks-in-april-but-cost-pressures-ease-pmi

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