UK manufacturing sector growth eases in May

By Ovunc Kutlu

ANKARA (AA) - Growth in the UK's manufacturing sector eased in May, according to a joint report by S&P Global and Chartered Institute of Procurement & Supply (CIPS) released on Wednesday.

The seasonally adjusted S&P Global / CIPS UK manufacturing purchasing managers’ index (PMI) came in at 54.6 in May, down from 55.8 in April.

A figure above 50 indicates expansion and below that level means contraction.

"Manufacturing output increased at the slowest pace since October 2021. The performance of the consumer goods industry was especially weak, with production falling for the first time in 15 months," the report said.

While orders declined in both the consumer and intermediate goods sectors, companies attributed lower inflows of new work from overseas to Brexit difficulties, transportation delays, shipping disruptions and the loss of orders due to the war in Ukraine, it added.