The UK manufacturing sector started the third quarter on a firm footing. Production and new orders both continued to rise at robust, above longrun average rates in July, encouraging further job creation. However, the pace of expansion at manufacturers cooled from the stellar growth spurt seen during the first half of the year. At 55.4 in July, down from 57.2 in June, the headline seasonally adjusted Markit/CIPS Purchasing Manager’s Index® (PMI®) posted its lowest reading in one year, but nonetheless remained well above the survey average of 51.5. The PMI has now signalled an improvement in operating conditions ... (full story)