UK July Manufacturing PMI Revised Down To 4-Month Low
British factories expanded for a ninth straight month as new orders and export demand rose, though slower jobs growth and lower stock buying cut momentum.
- British manufacturing activity expanded for a ninth straight month in July, though the Global Purchasing Managers' Index fell to 51.9, marking the slowest pace in four months.
- The breakdown of the US-Iran ceasefire early in the month and uncertainty surrounding the conflict acted as a key drag on manufacturer optimism, according to the Item Club.
- While production growth hit its fastest pace in almost two years, staffing levels increased for the fourth month in a row but growth slowed to "near stagnation."
- Matt Swannell, chief economic adviser to the Item Club, said global trade tensions, tax rises, and regulatory changes dragged down business sentiment despite the production upturns.
- On July 20, Iran-aligned Houthis in Yemen declared a naval blockade on Saudi Arabia, pushing oil prices above $100 a barrel and adding to the volatile economic environment.
22 Articles
22 Articles
Times of India
Business TimesUS manufacturing activity jumps to more than four-year high in July
U.S. manufacturing activity reached its highest level in over four years during July. Strong order growth boosted factory employment, while supply chains faced strain. Input costs remained elevated due to the ongoing Middle East conflict. Businesses are front-loading orders to avoid potential shortages and higher prices. This expansion occurred as factory production grew at its fastest pace in four years.
The Ism manufacturing index of July in the U.S., well beyond estimates: it stands at 55.6 compared to 53.3 in June, while analysts had assumed a figure at 54. It is the most solid step of the productive expansion since May 2022. (ANSA)
The index of industrial purchasing managers (PMI) in the United States was stable at 53.9 in July, before June, when it reached the lowest level in three months, according to data released on Monday (3) by S&P Global. The reading came in line with the consensus of a group of analysts. Although the main MIP index remained stable in July, the details of the research reveal warning signs about the future growth trajectory.
Evening Standard
The IndependentUK manufacturing sector reveals slowdown in growth
A rise in new business and export orders helped maintain growing demand and strong production over the month.
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