UK Manufacturing Growth Hits 16-month Low in May: PMI

UK Manufacturing Growth Hits 16-month Low in May: PMI
Smoke rises above a factory at sunset in Rugby, Britain, on Feb. 10, 2021. Matthew Childs/ TPX Images of the Day via Reuters
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LONDON—British manufacturing activity expanded in May at the weakest rate since January 2021, as producers of consumer goods struggled against a worsening cost-of-living crunch, a survey showed on Wednesday.

The final estimate of the S&P Global UK Manufacturing Purchasing Managers’ Index (PMI) fell to 54.6 in May from 55.8 in April, unchanged from a preliminary reading.