UK manufacturing activity rebounds in June
The manufacturing activity in the United Kingdom increased in June returning to growth after a coronavirus-caused downturn, IHS Markit reported on Wednesday. The UK IHS Markit/CIPS Purchasing Managers’ Index (PMI) stood at 50.1 in June, up from 40.7 recorded a month earlier.
“June completed a marked turnaround in momentum in UK manufacturing, as the sector switched from April’s record contraction back to stabilization in the space of two months,” Rob Dobson, director at IHS Markit, stated. “Output edged higher and domestic demand firmed as lockdown restrictions loosened, factories restarted and staff returned to work,” he added.
The report also noted that business optimism in the UK jumped to the highest level in 21 months.
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