The UK manufacturing sector growth moderated in May from a three-year high, survey results from IHS Markit and the Chartered Institute of Procurement & Supply showed Thursday.
The factory Purchasing Managers’ Index fell to 56.7 in May from 57.3 in April. Nonetheless, the score was above the expected level of 56.5 and signaled an improvement in conditions for the tenth consecutive month.
Manufacturing production and new orders both expanded at above survey average rates in May.
The ongoing expansion of the manufacturing sector had a positive impact on both business sentiment and job creation.
Rates of inflation in input costs and output charges remained elevated in May, despite easing further from recent highs.
“While not quite hitting the heights of April’s rebound in activity, the manufacturing sector didn’t disappoint with a sustained rise in purchasing activity, output and new orders, optimism at a 20-month high, and storming ahead unfazed by the looming election,” Duncan Brock, director of customer relationships at the Chartered Institute of Procurement & Supply, said.
The material has been provided by InstaForex Company – www.instaforex.com
June 01, 2017 at 02:44PM
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