- UK manufacturing production expanded for the fourth consecutive month in July, achieving its fastest growth rate in nearly two years.
- The S&P Global purchasing managers' index (PMI) fell to 51.9 in July from 52.5 in June, driven by concerns over geopolitical conflicts and potential energy supply disruptions.
- New orders rose for the eighth month in a row, with export demand picking up from the US, Canada, the EU, China, India, and South Korea.
- Hiring in the sector neared stagnation in July, marking the weakest employment growth during the current economic upturn.
Quotes
“further encouragement for the UK manufacturing sector”
“Manufacturers are by their nature positive and adaptable to change and these past few months have tested both”