[London, 4th Reuters]–The UK Manufacturing Purchasing Managers Index (PMI) revision in April released by IHS Markit / CIPS was 60.9, up from 58.9 in March, 1994. It was the highest level in about 27 years since July. It has also been revised upward from the preliminary value of 60.7.
The new orders index has reached its highest level since November 2013, with two-thirds expecting production to increase a year later.
However, factors behind the rise in PMI include longer delivery times and higher raw material costs. These factors are now growth impediments.
IHS Markit pointed out that supply chain delays and raw material shortages pushed up purchasing costs and led to record increases in selling prices.