United Kingdom: Manufacturing PMI inches up in June
July 1, 2014
The manufacturing Markit/CPIS Purchasing Managers Index (PMI) inched up from 57.0 in May to 57.5 in June. As a result, the index moved above the 50-threshold that separates expansion from contraction in business conditions, where it has remained since February 2013.
According to Markit/CIPS, the index remains, “elevated and sufficient to ensure the average pace over the second quarter.” UK manufacturing firms reported increased orders from Europe, Asia and the Middle East. Moreover, British companies acknowledged improving conditions in new markets resulting from the launch of new products and an overall improvement of economic conditions.