The UK manufacturing sector expanded at the start of the third quarter, showing a growth in industrial activity for the first time in three months.
According to the latest figures from IHS Markit, the Purchasing Managers’ Index figure for July rose to 5.1, up from 54.2 in June. Any figure above 50 signifies growth.
Whilst the number is a marked improvement on the weak results seen in June, the improvement in the pace of increase was still among the slowest registered over the past year. This was despite a significant boost from the trend in new export business, as foreign demand rose at the second-strongest rate in the series history, beaten only by that recorded in April 2010.
“UK manufacturing started the third quarter on a solid footing. The headline PMI signalled a growth acceleration for the first time in three months during July, as new order intakes were boosted by a near survey-record increase in new export business,” said Rob Dobson, director of IHS Markit.
