UK Manufacturing PMI Slips to 51.9, Missing 52.5 Forecasts
Updated
Updated · Yahoo Finance UK · Aug 3
UK Manufacturing PMI Slips to 51.9, Missing 52.5 Forecasts
3 articles · Updated · Yahoo Finance UK · Aug 3
Summary
51.9 was the UK manufacturing PMI reading in July, down from 52.5 in June and marking the sector’s weakest expansion in four months.
New orders and exports still grew—helped by demand from North America, the EU, China, India and South Korea—and production rose at its fastest pace in almost two years.
Purchasing stock fell and hiring growth slowed to near stagnation, pulling on the headline index even as staffing levels rose for a fourth straight month.
Business optimism remained subdued as firms cited global trade tensions, tax rises, regulatory changes and uncertainty after the US-Iran ceasefire broke down.