UK manufacturing activity was revised down in June, the final report from IHS Markit confirmed on Thursday.
The Purchasing Managers Index IHS Markit / CIPS UK Manufacturing PMI seasonally adjusted was revised down to 63.9 in June from 64.2 expected and the 64.2 of the first estimate.
Key points
- Tensions in the supply chain lead to record price increases.
- Continue the strong growth in production, new orders and employment.
Rob Dobson, Director of IHS Markit, commented on the survey
“UK manufacturing maintained a near-record expansion pace in surveys at the end of the second quarter, as the reopening of economies at home and abroad supported growth in production, new orders and employment. Strong business confidence and mounting backlogs at work also suggest that the current rally needs to continue. “
“However, the sector remains beset by rising inflationary cost pressures as Brexit-related trade issues exacerbated global supply chain delays. The resulting widespread commodity shortages boosted purchasing prices to the largest extent on record, leading to an unprecedented sharp rise in sales prices. There are also widespread reports of supply problems causing disruptions to production schedules and preventing re-building of stocks. “
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