FX.co ★ UK Manufacturing Growth Improves In April

The UK manufacturing growth improved in April from March's five-month low, final survey results from S&P Global showed Tuesday.

The Chartered Institute of Procurement & Supply manufacturing Purchasing Managers' Index rose to 55.8 in April from 55.2 in March. The reading was above the flash estimate of 55.3.

The index has remained above the neutral 50.0 mark for 23 successive months in April. Companies linked higher production to increased intakes of new business, reduced delivery delays and efforts to clear backlogs of work. The outlook remained positive but the degree of confidence slumped to a 16-month low.

Input costs rose at the second-strongest pace in the survey history. Output charges increased to a record extent, as manufacturers acted to pass on rising costs.

Employment rose for the sixteenth month running in April, as companies reacted to increased production and rising order backlogs.