UK leads global export growth for first time in 15 years

(Source: Markit)

Global purchasing manager's index (PMI) data compiled by Markit shows the UK leading export growth for the first time in the index's 15 year history (release). Average worldwide manufacturing output and new orders grew at the slowest rates for four months in April.

Somewhat disappointingly, the improvement in UK exports merely helped the PMI suggest a moderation in the rate of decline of the sector to near-stagnation and the weakest for three months, as subdued domestic demand offset the export gains.