The UK manufacturing sector returned to growth in May, as output expanded at the quickest pace in over two years on the back of improved intakes of new work. The outlook also brightened as manufacturers' positive sentiment rose to its highest level since early-2022, with 63% of companies expecting output to expand over the coming year. The seasonally adjusted S&P Global UK Manufacturing Purchasing Managers’ Index™ (PMI®) rose to 51.2 in May, up from 49.1 in April, its highest reading since July 2022 but a tick below the earlier flash estimate of 51.3. The headline PMI has posted above the neutral 50.0 mark in two out ... (full story)