Manufacturing activity rises
The latest purchasing managers’ index from Markit and the Chartered Institute of Purchasing & Supply (Cips) showed a headline reading of 51.3 for May, up from a revised 50.2 in April and above the 50 level that separates growth from contraction.
David Noble, chief executive at the Chartered Institute of Purchasing and Supply (Cips), said: “There’s more work to do, but this is a solid foundation which bodes well for the future.”
Lee Hopley, chief economist at manufacturing trade body EEF, said the figures signalled “the strong likelihood of a positive second quarter for the sector”.