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Manufacturing PMI at five-month high in UK

Staff writer ▼ | July 5, 2016
June saw a modest improvement in the performance of the UK manufacturing sector. The seasonally adjusted Markit/CIPS Purchasing Managers’ Index (PMI) posted 52.1, up from a revised reading of 50.4 in May, its highest level since January.
Manufacturing UK
Britain   Markit/CIPS UK Manufacturing PMI
It should be noted that the data collection window for this month’s survey was between the 13th and 27th June. Almost all of the responses included in the final index readings were received prior to the end of 23rd June (the day of the UK’s EU referendum).

June data signalled a faster rate of increase in UK manufacturing production, underpinned by a solid acceleration in inflows of new work. New orders rose at the quickest pace since last October, reflecting the ongoing strength of the domestic market and a marginal uptick in new export business.

Where an increase in new work from overseas was recorded, companies linked this to higher sales to the USA, mainland Europe (especially Germany, Italy, Spain and the Benelux nations), Russia and East Asia.

Sector data pointed to a broad-based improvement in operating conditions during June. Output and new orders increased across the consumer, intermediate and investment goods industries, with only the latter failing to also see gains in new export business.