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UK Manufacturing PMI Hits 50.3, Growth Hinges on Exports

5/2/2026

42 7 Full Breakdown

Summary

Story summary

Official manufacturing PMI rose to 50.3 in April, marking a second month of expansion.
Export-order sub-index climbed to 50.3, its strongest level since April 2024.
New-orders sub-index fell to 50.6 in April after reaching 51.6 in March.
Private-sector PMI by S&P Global and RatingDog rose to 52.2 in April, up from 50.8 in March.
Analysts said the expansion depends heavily on export demand because domestic consumption and retail sales remain weak.

History

Historical Context

The 1997 Asian financial crisis began when Thailand floated the baht on 2 July 1997, sparking currency collapses in South Korea and Indonesia. The IMF responded with a $40 billion rescue package that imposed fiscal tightening and an export-focused recovery. Today’s April manufacturing PMI of 50.3 echoes that export reliance, warning that weakened external demand could repeat the 1998 slowdown.

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Story summary

Official manufacturing PMI rose to 50.3 in April, marking a second month of expansion.
Export-order sub-index climbed to 50.3, its strongest level since April 2024.
New-orders sub-index fell to 50.6 in April after reaching 51.6 in March.
Private-sector PMI by S&P Global and RatingDog rose to 52.2 in April, up from 50.8 in March.
Analysts said the expansion depends heavily on export demand because domestic consumption and retail sales remain weak.

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