Downturn across UK firms stretches into May despite tariffs respite

The data shows the manufacturing sector fell at the fastest rate since October 2023 (PA) - (PA Wire)

A slump across the UK’s private sector continued into the first weeks of May, though at a slower rate than in April, amid improving confidence following the easing of US trade tariffs.

The S&P Global flash UK composite purchasing managers’ index (PMI) reported a reading of 49.4 in May, up from 48.5 in April.