UK manufacturing growth slows at end of second quarter

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Monday, Jul 03 2017

UK manufacturing growth slows at end of second quarter

The end of the second quarter saw manufacturers report further expansions of both production and new order volumes. However, rates of increase decelerated, as growth of new business slowed in both the domestic and export markets. Price pressures continued to ease, with rates of inflation in input costs and output charges down further from highs reached at the start of the year. At 54.3 in June, down from 56.3 in May, the seasonally adjusted IHS Markit/CIPS Purchasing Managers’ Index posted its lowest reading in three months. However, the average PMI level over the second quarter as a whole (55.9) was the best registered for three years.

Manufacturing production increased for the eleventh successive month in June. Companies attributed the latest expansion to higher intakes of new business. Some firms also noted that slower growth of new orders meant output was raised to a lesser extent than in recent months.The latest survey pointed to a broad-based slowdown, with output and new orders rising at milder rates across the consumer, intermediate and investment goods sectors.

More in this category: « Spanish Manufacturing PMI declined to 54.7 US Manufacturing PMI rose more than expected »

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