UK manufacturing grew at fastest rate in 27 YEARS last month…

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UK manufacturing grew at the fastest rate in nearly 27 years last month as the coronavirus BounceBack gathered pace. The closely-watched IHS Markit/CIPS PMI hit 60.9 in April – with anything above 50 representing expansion. That was above the 58.9 recorded in March, and the highest seen since a score of 61 in July 1994. 

The positive findings from the monthly survey comes amid expectations that the Bank of England will upgrade its growth forecasts this week. Chancellor Rishi Sunak has insisted that the UK is well-placed for a strong recovery, with consumers who have stayed in jobs during the pandemic sitting on billions of pounds of enforced savings.   

Manufacturing managers said they have seen output growth due to the loosening of restrictions, improved demand and rising backlogs of work. It means the UK sector has seen growth for 11 months in a row. 

We love hearing positive news within UK Manufacturing, its a real passion of ours at R50 and the start of the recovery of the UK Manufacturing sector is KEY for the UK and something we need to assure we protect.

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