Mumbai, June 2 -- The UK manufacturing sector continued to face tough operating conditions in May. A combination of weak global demand, turbulent trading conditions and rising cost burdens led to reduced levels of output, new orders, new export business and employment.
The seasonally adjusted S&P Global UK Manufacturing Purchasing Managers' Index (PMI) rose to a three-month high of 46.4 in May, up from 45.4 in April and above the earlier flash estimate of 45.1.
The PMI has nonetheless signaled a deterioration in operating performance in each of the past eight months. Four out of the five PMI components (output, new orders, employment and stocks of purchases) were consistent with contraction.
Manufacturing production contracted for the se...