UK Sees Surprising Spike in Manufacturing Activity in April

British manufacturing growth surged to a three-year high in April, adding to signs that factories are enjoying at least a temporary boost ahead of Brexit from the weak pound, a survey showed on Tuesday.

The Markit/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) rose to 57.3 from 54.2 in March, exceeding all forecasts in a Reuters poll of economists which had pointed to a slight decline to 54.0.

The figures may be a small boon for Prime Minister Theresa May ahead of the June 8 national election, after official data last week showed the economy slowed sharply in the first three months of the year as inflation hurt consumers.

Reuters

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