ACTIVITY in Britain’s manufacturing sector weakened in the first quarter to its lowest level in a year, as a slowdown in the rate of new orders dragged on industry performance in March.
The Markit/CIPS UK Manufacturing purchasing managers’ index (PMI) showed a reading of 55.1 last month, slightly higher than 55.0 in February, and surpassing economist forecasts for 54.7. A reading above 50 indicates growth.
However, it was not enough to bolster first quarter results.
“The average reading over the opening quarter as a whole (55.1) was the weakest in a year, suggesting that the underlying pace of expansion has been generally slower since the start 2018,” the report explained.
Rob Dobson, director at IHS Markit which compiles the survey, said: “The latest PMI survey provided further evidence that UK manufacturing has entered a softer growth phase so far this year.”
Staffing levels did rise for the 20th successive month, but at the slowest rate during the year so far.
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