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UK PMI: manufacturing output rises on solid domestic demand
The UK manufacturing sector saw further modest expansions of both output and new orders in May, as a solid domestic market continued to offset lacklustre demand from overseas. The consumer goods sector remained the stand-out performer, while investment goods producers fared better than in April. Negative news came from the intermediate goods sector, where the downturn in output continued. The seasonally adjusted Markit/CIPS Purchasing Manager’s Index® (PMI® ) – a summary indicator of overall manufacturing sector health – ticked higher to 52.0 in May, up from a revised reading of 51.8 in April (previously ... (full story)
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