UK manufacturing ‘caught in doldrums’ in June, newest survey exhibits

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The UK’s producers remained “caught within the doldrums” in June, which means the sector is unlikely to contribute to total progress within the second quarter.

The Buying Managers’ Index survey got here in at 54.four within the month, up barely on Might’s determine however nicely down from the latest peak of 58 on the finish of 2017.

“With doubtlessly caught within the doldrums, the UK economic system might want to look to different sectors if GDP progress is to match expectations within the latter half of the 12 months,” mentioned Rob Dobson of IHS Markit, which compiles the PMI survey.

Enterprise optimism fell to its lowest in seven months, with corporations highlighting issues over Brexit and commerce.  

The latest official knowledge means that manufacturing, which accounts for 10 per cent  of the economic system, contracted by 1.four per cent in April, its worst month in additional than 5 years.

This means the sector’s output has fallen each month to this point in 2018, following a increase in late 2017.

The June PMI for building will probably be launched in Tuesday adopted by providers – which account for 80 per cent of the economic system – on Wednesday.

Extra follows…

 



Supply hyperlink – http://www.unbiased.co.uk/information/enterprise/information/uk-manufacturing-june-purchasing-managers-index-gdp-industry-a8426301.html

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