U.K. Manufacturing Unexpectedly Cools as Pound Saps Exports

Growth at U.K. factories unexpectedly cooled last month as the stronger pound hit demand for British goods abroad, adding to signs economic growth is losing momentum less than a week before the general election.

A Purchasing Managers’ Index for the manufacturing industry fell to a seven-month low of 51.9 from 54 in March, Markit Economics Ltd. said on Friday in London. Economists had forecast an increase to 54.6 from a previous reading of 54.4. New export orders shrank for the fifth time in seven months.