UK factory costs and delivery delays rise amid Iran war
UK manufacturing PMI rose to 53.7 in April as the Iran war drove up costs. Shipping delays hit a multi-year high while business optimism fell to a one-year low.
United Kingdom manufacturing PMI rose to 53.7 in April as conflict in the Middle East drove input costs to a two-year high. The reading climbed from 51.0 in March, marking the sharpest increase in average selling prices since November 2022. Supply chain disruptions and energy price surges threaten to sustain inflation even as business optimism hits a one-year low.
### Shipping Crisis Chokes Global Energy Supply A standoff in the Strait of Hormuz involving Iran, the United States, and Israel has closed the vital sea channel. This blockage has halted 20% of global supplies for Brent Crude Oil and Natural Gas.
