-
UK production falls for first time in six months as input price inflation spikes and supply chain stress grows
UK manufacturing production fell back into contraction at the end of the opening quarter, as rising uncertainty surrounding geopolitical tensions, the war in the Middle East and direction of domestic economic policy led to a scaling back of output volumes. March also saw a steep rise in input price inflation and a marked increase in supply-chain stress. The seasonally adjusted S&P Global UK Manufacturing Purchasing Managers’ Index™ (PMI®) posted 51.0 in March, down from 51.7 in February and below the flash estimate of 51.4. The PMI has remained above the neutral 50.0 mark for five successive months. Two of the ... (full story)