- Analytics
- News and Tools
- Market News
- UK Manufacturing PMI remains stuck at February 2013 low in July - IHS Markit
UK Manufacturing PMI remains stuck at February 2013 low in July - IHS Markit
According to the report from IHS Markit, the downturn in the UK manufacturing sector continued at the start of the third quarter. Production and new orders shrank as manufacturers faced the ongoing headwinds of political uncertainty, a global economic slowdown and the unwinding of stocks built prior to the original Brexit date.
At 48.0 in July, unchanged from June, the headline seasonally adjusted PMI stayed below the neutral 50.0 mark for the third straight month. The last time that the PMI was below its current level was almost six-and-a-half years ago (February 2013).
Manufacturing production fell to the greatest extent in seven years, as companies scaled back output in response to a further solid decrease in new order intakes. Demand was weaker from domestic and overseas markets. Manufacturers linked lower order intakes and production to ongoing uncertainties (political, global trade tensions and Brexit) and slower world economic growth. Employment decreased for the fourth month in a row, with the pace of decline accelerating to one of the highest over the past six-and-a half years.
Manufacturers maintained a positive outlook in July. Over 46% expect output to be higher in one year's time, compared to less than 10% forecasting contraction.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
