British manufacturing grew at the slowest pace in 13 months in March as price pressures worsened.
- The S&P Global/CIPS UK Manufacturing Managers’ Index (PMI) dropped to 55.2, revised down from a preliminary reading of 55.5, from 58.0 in February.
- The index of new orders plunged to its lowest level since January 2021, hampered by easing domestic demand and the sixth decline in seven months for export orders.
- The survey pointed to tougher times before Britain’s economy, with growth set to slow amid a global increase surge in inflation pressure, driven by a crisis in commodity markets.
Input costs and output prices increased in March after they dropped in previous months from record-high levels, signaling persistent inflation pressure.
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Source: S&P Global