The UK manufacturing sector showed signs of stabilising at the start of the second quarter of 2013, as levels of production and new orders rose slightly after contracting in the prior two months. At 49.8 in April, up further from February’s four-month low, the seasonally adjusted Markit/CIPS Purchasing Manager’s Index® (PMI®) signalled little change in overall operating conditions in the sector, following contractions in the prior two months. Apart from the mild gain in new contracts, the modest recovery in production volumes also reflected efforts to clear backlogs of work. Output growth was centred on the consumer ... (full story)