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- UK’s manufacturing activity growth slows slightly less than initially estimated in August - IHS Markit
UK’s manufacturing activity growth slows slightly less than initially estimated in August - IHS Markit
The
latest report by IHS Markit revealed on Wednesday the seasonally adjusted final
IHS Markit/CIPS Purchasing Managers’ Index (PMI) came in at 60.3 in August, up
slightly from the “flash” figure of 60.1 and down marginally from July's reading
of 60.4. The latest reading pointed to the weakest expansion in the manufacturing
sector since March.
Economists
had forecast the index to stay unrevised at 60.1.
According
to the report, shortages of inputs and delivery delays disrupted production
schedules, leading to slower output growth, and also resulted in marked gains
in input prices. Manufacturing output rose the least since February, while incoming
new business continued to rise at solid rates, reflecting increased inflows
from both domestic and overseas markets. Elsewhere, employment rose for the eighth
month in a row and to one of the greatest extents in the survey history, albeit
also the slowest since April. Average supplier lead times lengthened to the
second-greatest extent in the survey history during August. On the price front,
average purchase prices rose at the fourth-fastest rate in the survey history,
while average selling prices also increased at one of the quickest rates on
record.
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