Manufacturing hit by crisis in the Eurozone
PROBLEMS in the crisis-hit Eurozone have hit the UK's manufacturing sector, according to new figures.
The Markit/CIPS survey, where a reading above 50 represents growth, fell to 50.5 in April from 51.9 the previous month.
This represented the weakest growth rate so far this year when the City had expected a figure of 52.
The slowdown was driven by the first decline in new orders for five months, reflecting a drop in new export business as demand weakened in the Eurozone.
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Caroline Stanworth, area corporate director for Barclays in Staffordshire, said: "Although UK manufacturing growth has softened, there is still strength in the sector despite news of a return to recession. It seems that the contraction in economic growth has not had a lasting impact on manufacturers' confidence, with signs of optimism across the industry and various sub sectors performing well."