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Financial News: UK Manufacturing Growth Eases In June

UK Manufacturing Growth Eases In June

07/03/2017 - 04:50:00 (RTTNews)

(RTTNews) - The UK manufacturing sector expanded at the weakest pace in three months in June, survey results from IHS Markit and Chartered Institute of Procurement & Supply showed Monday.

The factory Purchasing Managers' Index fell to 54.3 in June from revised 56.3 in May. The expected reading was 56.5.

Manufacturers reported further expansions of both production and new order volumes. However, rates of increase decelerated in June.

Data showed that price pressures continued to ease, with rates of inflation in input costs and output charges down further from highs reached at the start of the year.

"While the survey data add to signs that the economy is likely to have shown stronger growth in the second quarter, further doubts are raised as to whether this performance can be sustained into the second half of the year," Rob Dobson, senior economist at IHS Markit, said.

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