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- The softer growth patch of the UK manufacturing sector continued at the start of the third quarter
The softer growth patch of the UK manufacturing sector continued at the start of the third quarter
July saw slower rates of expansion in both output and new orders, as weaker growth of new work from domestic sources offset a stronger increase in new export orders. Price pressures also remained elevated as a strong increase in average input costs led to the steepest rise in selling prices since February.
The seasonally adjusted IHS Markit/CIPS Purchasing Managers' Index fell to a three-month low of 54.0 in July, down from 54.3 in June and well below the highs achieved around the turn of the year. That said, the PMI remains comfortably above its long-run average of 51.8.
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