
UK preliminary June manufacturing PMI 47.7 vs 46.4 in May
(Il Sole 24 Ore Radiocor) - Milano, 23 giu - In June, the UK's purchasing managers' index for the manufacturing sector increased to a five-month high of 47.7 from 46.4 in May, according to preliminary data released by S&P Global.
A reading below 50 signals contracting sector activity, while one above an expansion.
The manufacturing output component of the index rose to a four-month high of 47.1 from 46.5 in May.
In the services sector, the index increased to a three-month high of 51.3 from 50.9 in May, while the composite output index, a weighted average of services PMI and manufacturing output, increased to a three-month high of 50.7 from 50.3 the previous month.
"The UK economy remained in a sluggish state at the end of the second quarter, according to the early PMI survey data," commented Chris Williamson, chief business economist at S&P Global Market Intelligence. "Although business conditions have continued to improve since April's downturn, quelling recession fears, growth of business activity remains disappointingly lacklustre, indicative of second quarter GDP.
rising at only a 0.1% quarterly pace."
(RADIOCOR) 23-06-25 10:55:43 (0225) 5 NNNN