UK manufacturing PMI slips to five-month low but hiring strengthens
S&P Global said hiring rose at the fastest pace in two years even as output growth cooled and the PMI eased to 51.7.
- Britain's manufacturing PMI slipped to 51.7 in August from 51.9 in July, marking the 10th consecutive month of growth but at its weakest pace since March, data showed on Tuesday.
- Growth in output slowed to the weakest since April, yet Factory employment expanded at the fastest pace in two years, driven by rising production requirements and firms' desire to reduce work backlogs.
- "Higher levels of production were underpinned by increased intakes of new work, with demand from both domestic and overseas clients improving," Global said, though smaller firms faced declining output and demand.
- Matt Swannell, chief economic adviser to the Item Club, warned Manufacturers face a "difficult" few months ahead as the Iran war fallout continues, with higher energy costs squeezing business profitability.
- Business confidence rose to a six-month high reflecting reduced trade tensions and stronger sales, yet firms remain cautious about geopolitical uncertainty and volatility stemming from the Middle East conflict.
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Manufacturing growth loses momentum as risks loom
The manufacturing sector suffered a slowdown in growth over August as smaller firms struggled to clinch new orders. S&P Global researchers suggested growth in the manufacturing sector eased in August as the purchasing managers’ index (PMI) reading dropped from 51.9 in July to 51.7. The reading remains above the neutral 50 mark, indicating that activity [...]
The UK industry continued to expand in August, although at a more moderate pace. S&P Global's manufacturing PMI fell from 51.9 in July to 51.7 in August, reaching the lowest level in five months. Despite the slight deceleration, the indicator remained above the 50-point mark for the tenth consecutive month, signaling continuity in the expansion of industrial activity. Exclusive material for subscribers. To have full access, access the material l…
UK manufacturing PMI slips to five-month low but hiring strengthens
LONDON, Sept 1 (Reuters) - Activity growth in Britain's manufacturing sector slowed slightly in August to its weakest since March but factories hired workers at the fastest pace in more than two years, monthly purchasing managers' index data showed o...
UK manufacturing growth slows to five-month low as hiring reaches two-year high - London Business News
UK manufacturing growth slowed to a five-month low in August as smaller producers came under renewed pressure, although stronger business confidence drove hiring to its fastest pace in two years.… The post UK manufacturing growth slows to five-month low as hiring reaches two-year high appeared first on London Business News
The index of purchasing managers (PMI) of the UK industrial sector fell from 51.9... The post industrial PMI of the UK falls to 51.7 in August, but is above the previous appeared first on GMC Online.
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