Source: S&P Global
The UK private sector slowed in April, with the activity index in services businesses hitting 57.6, a three-month low, and below 60.9 in the previous month. FTSE 100 is down -0.67%, GBPUSD is down -1.14%.
- The orders in the private sector waned, while the new business expansion was at its weakest in the year. The export sales fell for the second straight month in the sector.
- Following the slowdowns, the overall growth in the UK hit a three-month low, with the output index at 57.6 in April compared to 57.6 in March.
- Manufacturing activity went higher, as the output index fell from 51.8 in March to 53.8 in April, a two-month high. The Manufacturing PMI was at 55.3, a two-month high, from 55.25.
- Backlogs of work saw a downturn in both the service and manufacturing sectors for the first time in fourteen months. Firms reported slower demand, raw material shortages, and staff issues.
- The employment maintained a positive trend which began on March 21, although the rate of job creation was the weakest in a year.
- The input inflation rose for the fourth straight month in April and was the second-fastest in the survey history. Output charges eased slightly in the private sector but remained at a survey record.
- Business optimism fell for the third straight month, with the war in Ukraine raising concerns about the cost of living.
