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- May saw a mild improvement in the performance of the UK manufacturing sector according to Markit data
May saw a mild improvement in the performance of the UK manufacturing sector according to Markit data
The seasonally adjusted IHS Markit/CIPS Purchasing Managers' Index rose to 54.4, up slightly from April's 17-month low of 53.9, to signal growth for the twenty-second straight month. The improved trend signalled by the PMI masked several areas of potential concern. Although growth of production accelerated to its best during the year-so-far, this was mainly achieved through the steepest build-up of finished goods inventories in the 26-year survey history and a sharp reduction in backlogs of work.
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