Business activity across the UK private sector increased for the fifth consecutive month in June. The latest survey illustrated another solid upturn in the service economy, whereas manufacturers continued to underperform as production volumes declined for the eleventh time in the past twelve months. Overall private sector output growth was the slowest since March, reflecting a much softer rise in new order intakes as some clients curtailed spending. June data also highlighted contrasting inflationary pressures in the manufacturing and service sectors. Manufacturing companies signalled an outright reduction in factory ... (full story)