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UK manufacturing recovery continues in May despite rising price and supply chain pressures
May saw the upturn in the UK manufacturing sector gather pace, with the rate of expansion in production volumes hitting a three-month high. However, companies continued to face significant challenges, especially relating to supply chain disruption, material shortages and rising purchasing costs. The seasonally adjusted S&P Global UK Manufacturing Purchasing Managers’ Index™ (PMI®) rose to a four-year high of 53.9 in May, up slightly from 53.7 in April. The PMI has remained above its no change mark of 50.0, signalling expansion, for seven successive months. All five of the PMI sub-components (new orders, ... (full story)
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