Manufacturing sector contracts

UK manufacturing sector contracts PMI survey shows

Britain’s manufacturing sector contracted for the first time in two years last month, a key survey has revealed.

The Markit Purchasing Managers’ Index (PMI) recorded a level of 49.1 for July - a reading above 50 indicates growth - down from a revised reading of 51.4 in June.

New orders fell for the third month in a row and at the fastest rate since May 2009 - reflecting low domestic demand, Markit said.

Economists said the results do not bode well for third-quarter growth prospects in the UK, after official figures revealed a slowdown in GDP growth from 0.5 per cent in the first quarter to 0.2 per cent between April and June.

Recent articles

Info Message

Our sites use cookies to support some functionality, and to collect anonymous user data.

Learn more about IET cookies and how to control them

Close