UK factory production has tempered, presenting the strongest output in five months. The S&P Global UK manufacturing PMI recorded a reading of 47.7 in June, lifted from 46.4 in May. Despite the ongoing downturn, signs of stabilisation emerge: production, new orders, and employment declined at slower rates, and business optimism increased to a four-month high. However, the situation remains delicate, susceptible to challenges affecting demand and growth. The new orders index surged, marking the highest level since October 2024, contributing to heightened industry optimism following a recent US-UK trade deal.
According to the latest PMI survey, production, new orders, and employment all fell at slower rates, while business optimism reached a four-month high.
The manufacturing PMI increased for the second consecutive month in June, indicating improvements, particularly in the new orders index, which rose to the highest level since October 2024.
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