Source: Sharecast
The S&P Global manufacturing purchasing managers’ index rose to 53.7, its best level since May 2022, from 51.0 in March. It was also a touch higher than the flash estimate of 53.6.
The index was above the 50.0 mark that separates contraction from expansion for the sixth month in a row.
The survey also showed that supply chain and price pressures continued to grow, however, as disruptions, delays and the conflict in the Middle East took their toll.
Rob Dobson, director at S&P Global Market Intelligence, said: "April saw the growth rate of the UK manufacturing sector recover after being hit by the impacts of the war in the Middle East during March. The headline PMI rose to a near four-year high, as the trends in output and new orders strengthened. Staffing levels were also increased for the first time in 18 months.
"The upturn comes with several catches, however. Restrictions on transit through the Strait of Hormuz are causing substantial disruptions to input deliveries, with supplier lead times lengthening to the greatest extent in almost four years. The resulting material shortages are exerting steep pressure on purchasing costs. Input prices rose at one of the fastest rates in the 34-year survey history, and at a pace rarely exceeded outside of the pandemic-related inflationary surge of 2021-22.
"It should also be noted that the gain in production is partly the result of clients bringing forward purchases to mitigate expected price uplifts and supply disruptions. As this process unwinds later in the year, alongside declining business optimism, growth in the sector could cool while inflationary pressures remain on high heat."