- Final Manufacturing PMI 51.2 vs. 51.3 expected and 49.1 previous.
Key findings:
- Manufacturing PMI at 51.2 in May
- Production is rising in all major subsectors and size categories.
- Business optimism rises to 27-month high
comment:
Commenting on the latest survey results, Rob Dobson, Director of S&P Global Market Intelligence, said:
“May saw a strong rebound in activity in the UK manufacturing sector, with production levels and new business rising at the fastest rates since early 2022. The breadth of the recovery was also positive, with concurrent production and new order growth recorded for all major sub-industries (consumer and intermediate goods and investment) and all company size categories for the first time in more than two years.
“While the recent recovery has been based on a strengthening domestic market, there have been signs that external demand is also approaching stabilization. Business optimism has risen alongside improving current conditions, with 63% of manufacturers expecting their production to be higher in One from now.”
“However, the latest PMI survey data presented a mixed picture of price pressures at manufacturers. At the factory gate, excise duty inflation rose for the fifth month in a row and to its highest level in a year. However, a strong easing in the rate of increase in costs Input would help prevent price pressures from becoming ingrained.
UK Manufacturing PMI