Manufacturing in fastest growth for 15 years

BRITISH manufacturing activity grew last month at its fastest rate in more than 15 years, a survey of purchasing managers has shown.

The Chartered Institute of Purchasing and Supply/Markit manufacturing PMI rose to 58.0 in April from an upwardly revised 57.3 in March.

That was well above the consensus forecast and the highest reading since September 1994, when Britain's economy was also re-surfacing from a deep recession.

Amit Kara, UK economist at UBS said: "It is another strong print, this time it appears to be led by exports which is hardly surprising after similar robust numbers from Europe and the US and the weaker exchange rate."