The upturn in the UK manufacturing economy continued to build momentum at the start of the third quarter, with growth rates for production and new orders the highest since February 2011. Although the domestic market remained the prime source of new contract wins, manufacturers also reported a solid improvement in overseas demand. The seasonally adjusted Markit/CIPS Purchasing Manager’s Index® (PMI®) rose to a 28-month high of 54.6 in July, up from a revised reading of 52.9 in June (originally published as 52.5). The PMI has remained above the neutral 50.0 mark – signalling expansion – since April, with its level ... (full story)