Economic news

British manufacturing gains firmly in June, though prospects are unclear

UK producing firms expanded at a solid rate last month, but trade discords and Brexit negatively affected the prospects confidence, pulling it down to the minimum of seven months, today’s survey demonstrated.

The country’s manufacturing PMI by the IHS Markit/CIPS moved higher to 54.4 from May’s 54.3, a revised down figure, overtaking the analysts’ prediction in a Reuters poll of 54.0.

Nevertheless, the UK’s manufacturing PMI was the worst in 18 months in the past quarter, and the industry outlook is questionable, according to IHS Markit.

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