June’s seasonally adjusted CIPS/Reuters Purchasing Managers' Index (PMI), designed to provide an overall view of conditions in the manufacturing economy, posted 49.2 in June, up from a revised level of 48.3 in May. However, having remained below the no-change mark of 50.0 since last December, the headline index suggested an overall contraction of the UK manufacturing economy for the seventh consecutive month.
The seasonally adjusted New Orders Index is at its highest level in the past seven months at 50.4, up from 49.8 in May. The Output Index also rose above the 50.0 ‘no change’ mark to 50.3 in June showing a propensity for growth of manufacturing for the first time in the previous four months.
Seasonally adjusted Input Prices (49.8), Output Prices (49.5) and Employment (47.9) all showed a decrease compared with the May results.
