UK manufacturing shows signs of recovery with PMI up to 46.4 in May, though still contracting.

The UK manufacturing sector showed a slower rate of contraction in May, with a PMI reading of 46.4, up from 45.4 in April. Though still contracting, the sector may be "turning a corner" as output and new orders have increased over the last two months. Challenges remain, including trade tensions, US tariffs, and higher costs, but the improved figures were better than expected. Warmer weather conditions also helped support sales in May.