UK Manufacturing Activity Picked Up in June

After the Great collapse due to COVID 19 pandemic, the UK manufacturing sector returned to recovery after it began to stabilize last June.

IHS Markit’s Purchasing Managers Index (PMI) posted 50.1 compared to 40.7 in May, in line with economists’ expectations. PMIs are given on a scale of 0 to 100, with anything above 50 signaling growth and anything below marking contraction.

“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,” said Rob Dobson, director at IHS Markit.