Manufacturing sector hits 5-month high in April
The British manufacturing sector reached a 5-month high in April, growing well beyond existing forecasts on account of a strong rise in output and new orders.
The Markit/CIPS manufacturing purchasing managers index sky-rocketed to a five-month high of 57.3 in April, from 55.8 in March, despite existing forecasts estimated a 55.4 index, a news report on the matter could reveal.
Manufacturers appear to be benefiting from a rise in domestic demand and modest recovery in the eurozone, while manufacturing export orders rose at the fastest rate since January, according to the PMI.
Furthermore, manufacturers taking part in the survey also revealed that they’ve increased the rate at which they hired new workers for a 12th consecutive month, to increase capacity at factories and meet higher demand. Firms are adding jobs at the rate of 10,000 a month, the research suggests.
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