UK Factories Struggle as Trade Uncertainty, Higher Costs Hit, PMI Shows

The downturn in British manufacturing was less steep than first feared in May but output, orders and jobs continued to drop as companies cited recent tax hikes and U.S. President Donald Trump's tariffs, a survey showed on Monday.

The final reading of the S&P Global UK manufacturing Purchasing Managers' Index (PMI), a measure of activity among factories, was 46.4 in May compared to 45.4 in April.

It was the highest since February but remained below the 50 threshold for growth. The provisional PMI figure for May was 45.1...

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