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 from 51.9 in August, marking the 10th consecutive month of growth but at its weakest pace since March, according to LONDON data released on Tuesday.
- Growth in output slowed to its weakest pace since the spring, yet Factory employment expanded at the fastest rate 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 disparities emerged between smaller producers and larger Manufacturers.
- Matt Swannell, chief economic adviser to the Item Club, warned Manufacturers face a "difficult" few months ahead as the Iran war's fallout continues, with higher energy costs and oil price resurgence pressuring business.
- Business confidence rose to a six-month high, reflecting reduced trade tensions and stronger sales, though firms remain cautious regarding geopolitical uncertainty and volatility sparked by the conflict in the Middle East.
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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...
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.
Manufacturing slows 'but hiring hits two-year high'
Growth in the UK’s manufacturing industry has slipped to a five-month low as smaller firms came under more pressure – but hiring activity picked up at the fastest pace in two years, according to new figures. The S&P Global UK manufacturing PMI survey showed a reading of 51.7 in August, down…
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