UK Manufacturing Sector Hit by Weak Demand and Red Sea Crisis

New figures confirmed that the manufacturing sector slipped back into contraction in April as the sector suffered from uncertain demand and disruption in the Red Sea. S&P’s purchasing managers’ index (PMI) for the manufacturing sector showed a reading of 49.1 in April, slightly higher than the ‘flash’ estimate of 48.7 but down from 50.3 in March. The 50 mark separates growth from contraction. The survey confirmed that the manufacturing sector slipped back into contraction after March’s slight uptick. Prior to last…