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Financial News: UK Factory Growth Remains Subdued In June

UK Factory Growth Remains Subdued In June

07/02/2018 - 04:59:00 (RTTNews)

(RTTNews) - The UK manufacturing sector growth remained subdued in June, survey results from IHS Markit showed Monday.

The IHS Markit/ Chartered Institute of Procurement & Supply factory Purchasing Managers' Index rose slightly to 54.4 in June from revised 54.3 in May. The score was almost four points below the 51-month high reached in November 2017.

A score above 50 indicates expansion. The expected reading was 54.2.

Output growth moderated, to largely offset a mild acceleration in new order growth and improved job creation. The survey was conducted between June 12 and 26.

With industry potentially stuck in the doldrums, the UK economy will need to look to other sectors if GDP growth is to match expectations in the latter half of the year, Rob Dobson, director at IHS Markit, said.

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