UK production falls for first time in six months
UK manufacturing output contracted for the first time in six months in March, with the S&P Global UK PMI dropping to 51.0 from 51.7 in February. The decline is attributed to the war in the Middle East and concerns over domestic economic policy, leading to increased input price inflation and longer delivery times. Rob Dobson from S&P Global noted that the high-cost environment and input shortages are hindering production volumes.
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