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Record low for manufacturing

UK manufacturing collapsed in April, with the IHS Markit/CIPS Purchasing Managers' Index recording a score of 32.6 from March’s 47.8 - the lowest level since the survey began 28 years ago. Manufacturing production, new orders and employment all fell and those businesses still placing orders have lengthened lead times dramatically, as factories remained mainly shut throughout the month. Rob Dobson, director at IHS Markit, said: "Inflationary pressures are remaining in check at the moment, which is linked to weak demand and collapsing global oil prices, but persistent shortages could start to drive some prices higher, notably for food.”

Read more here: The Independent


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