UK PMI manufacturing was finalized at 13-month low of 55.2, down from February’s 58.0. S&P Global said new export orders contracted for the second month running. Inflationary pressures strengthened.
Rob Dobson, Director at S&P Global, said: “Manufacturers are being hit by several headwinds simultaneously, as supply shortages, greater caution among clients, escalating inflationary pressures, ongoing Brexit factors and rising geopolitical tensions all hamper the upturn. It is therefore little surprise that business optimism has slumped to a 14-month low.”
