UK manufacturing sector growth softened at the start of Q2 2012, after making a solid start to the year during the opening quarter. The seasonally adjusted Markit/CIPS UK Manufacturing Purchasing Managers’ Index® (PMI®) dipped to 50.5 in April, below March’s revised reading of 51.9, but still above the neutral 50.0 mark that separates expansion from contraction. The PMI has signalled growth in each of the past five months. Manufacturing output expanded for the fifth month running in April. However, the rate of increase eased to its weakest in the year-to-date, partly due to a sharp reduction in new export orders. The ... (full story)