CIPS/Markit: Manufacturing decline slows

Fri, 1 May 2009

The downturn of UK manufacturing slowed in April, but further substantial job losses were recorded, according to the latest data from the CIPS/Markit Purchasing Managers’ Index.

The seasonally adjusted index rose to 42.9 (with 50 equaling no change) in April. The figure indicates the 13th consecutive month of contraction, but moved further away from February’s record low.

Roy Ayliffe, director at the Chartered Institute of Purchasing & Supply, says: “Although April saw some reprieve for the UK manufacturing sector, we are still far away from a turnaround and the industry is firmly embedded in the trenches of the recession.

“A noticeable easing in the rate of contraction for output and new orders was welcomed. But purchasing managers noted depleted stocks as increasing the risk to supply chains and tough trading conditions with ongoing cuts continue to bleed UK firms dry.”