Britain's PMI slowed to crawl in April

LONDON, May 6 (UPI) -- The purchasing managers index in Britain slowed to a crawl in April, the Chartered Institute of Purchasing and Supply said Tuesday.

The PMI declined to 50.4 in April from a previous monthly figure of 52.1.

The index measures anything above 50 as growth. Below 50 indicates a contraction.

A record 67.3 percent of managers reported prices they were paying inclined during the month, The Times of London reported.

But, fewer British managers said they would raise prices for consumers in April, compared with the previous month.

The index that measures consumer prices hikes as reported by managers fell from 56.2 to 55.2 during the month, the report said.