- Final Manufacturing PMI 51.2 vs.51.3 expected and 49.1 prior.
Key findings:
- Manufacturing PMI at 51.2 in May.
- Output rises across all main sub-sectors and
size categories. - Business optimism springs to 27-month high.
Comment:
Commenting on the latest survey results, Rob Dobson,
Director at S&P Global Market Intelligence, said:
“May saw a solid revival of activity in the UK manufacturing
sector, with levels of production and new business both
rising at the quickest rates since early-2022. The breadth
of the recovery was also a positive, with concurrent output
and new order growth registered for all of the main sub-
industries (consumer, intermediate and investment goods)
and all company size categories for the first time in over two
years.”
“While the latest upturn was dependent on a strengthening
domestic market, there were signs of overseas demand
also moving closer to stabilisation. Business optimism rose
in tandem with the improvement in current conditions, with
63% of manufacturers forecasting their output to be higher
one year from now.”
“The latest PMI survey data provided a mixed picture for
price pressures at manufacturers, however. At the factory
gate, output charge inflation strengthened for the fifth
successive month and to its highest level in a year. That said,
a solid easing in the rate of increase in input costs should
help prevent price pressures from becoming embedded.”
This article was written by Giuseppe Dellamotta at www.forexlive.com.
Source link
