Joseph Clark
The seasonally adjusted global PMI for the UK rose from 52.3 in June to 52.7 in July, slightly higher than 52.6.
The services PMI came in at 52.4, up from 52.1 in June, its highest level in two months.
flash The manufacturing PMI came in at 51.8, up from 50.9 in June, its highest level in 24 months.
“July’s preliminary PMI survey data points to an encouraging start to the second half of the year, with output, order books and employment growing at faster rates amid a recovery in business confidence, while price pressures have slowed.” He said Chris Williamson, Chief Trade Economist at S&P Global Market Intelligence.
“The first post-election business survey paints a welcome picture for the new government, with firms in manufacturing and services growing more optimistic about the future, reporting renewed demand and hiring more staff. Meanwhile, prices rose at their slowest rate in three-and-a-half years, raising the prospect of a summer rate cut,” he added.
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