UK manufacturing activity fell at its slowest pace in more than a year in June as output rose for the first time in 15 months.
By Ian Armitage
The CIPS/Markit manufacturing purchasing managers’ index rose to 47.0 last month from 45.4 in May - the highest since May 2008 - beating most analysts’ forecasts which predicted a more modest improvement.
That was the fourth consecutive monthly rise, although the index has remained below the 50 level, which separates expansion from contraction, for a record 15 months.
The survey showed manufacturing output actually grew for the first time since last March, with an index reading of 52.1 in June, up from 48.1 in May and the fastest pace of growth since February 2008.