TradingHUB Forex Trading | Charles Clifton | Knightsbridge Trading Academy | www.tradinghub.co.uk
Home/Financial Market News & Analysis/UK Manufacturing growth gathers pace as new order inflows strengthen

UK Manufacturing growth gathers pace as new order inflows strengthen

IHS Markit/CIPS UK Manufacturing PMI
UK Manufacturing growth gathers pace as new order inflows strengthen

 

Key findings:

  • Manufacturing PMI at four-month high of 56.
  • Broad-based expansion seen across all product categories
  • Input price inflation accelerates for first time in seven months

The rate of expansion in the UK manufacturing sector accelerated again in August. This was highlighted by the seasonally adjusted IHS Markit/CIPS Purchasing Managers’ Index® (PMI®) posting 56.9, up from 55.3 in July, to its second highest level in over three years.

All five of the PMI components – output, new orders, employment, suppliers’ delivery times and stocks of purchases – were consistent with a stronger performance for the manufacturing industry during August.

London Forex Trading Event |TradingHUB | London Forex Trading Workshops, Seminars & Social Events | www.tradinghub.co.uk

 

Production rose at the steepest pace in seven months, underpinned by faster intakes of new work received. Moreover, rates of expansion in
both variables were among the best registered since mid-2014.

The domestic market was the prime source of new contract wins, while the trend in new export business also remained robust. Although the rate of improvement in foreign demand eased from July’s near-record high, it remained among the strongest seen since new export orders data were first collected in January 1996.

FULL Markit/ONS DOCUMENT HERE

Sources: IHS Markit, UK Office for National Statistics

TradingHUB | Forex Trading | www.TradingHUB.co.uk
By | 2017-09-01T11:43:50+00:00 September 1st, 2017|Financial Market News & Analysis|0 Comments