Monday, 1 June 2015

UK consumers support manufacturing growth as strong pound hits order books

UK manufacturers remained in the slow lane in May, receiving important support from rising consumer spending as the strong pound continued to hit overseas trade.
The Markit/CIPS Manufacturing PMI rose from 51.8 in April to 52.0, but still signalled one of the weakest expansions seen over the past two years. The average PMI reading in the second quarter so far is the lowest since the second quarter of 2013.