The IHS Markit/CIPS flash U.K. composite purchasing managers index rose in May to a reading of 28.9 from 13.8 in April. Manufacturing PMI rose to 40.6 from 32.6 while services PMI rose to 27.8 from 13.4. Any reading below 50 indicates deteriorating conditions.
"The minor easing in the downturn compared to last month's figures only serves to highlight the depth of the fall in April's output and does not signal that the pathway is clear for an improvement in the manufacturing and services sectors," said Duncan Brock, group director at CIPS.
Source : Marketwatch