UK factories pick-up in June

UK manufacturers reported a pick-up in activity in June from May, according to a closely watched survey, reports BBC.
However, data for the Markit/CIPS manufacturing purchasing managers' index was almost all collected before the 23 June referendum.
There is a "clear risk" uncertainty resulting from the vote will have a short-term impact on manufacturing, Markit said in its report. Its index for June had the strongest reading since January, rising to 52.1.
"The latest PMI signalled that the manufacturing sector has started to move out of its early year sluggishness in the lead-up to the UK's EU referendum," said Rob Dobson, senior economist at Markit.
"Whether this growth recovery can be sustained will depend heavily on whether the current financial and political volatility spills over to the real economy," he added.

UK factories pick-up in June

UK manufacturers reported a pick-up in activity in June from May, according to a closely watched survey, reports BBC. However, data for the Markit/CIPS manufacturing purchasing managers index was almost all collected before the 23 June referendum. There is a clear risk uncertainty resulting from the vote will have a short-term impact on manufacturing, Markit said in its report. Its index for June had the strongest reading since January, rising to 52.1. The latest PMI signalled that the manufacturing sector has started to move out of its early year sluggishness in the lead-up to the UKs EU referendum, said Rob Dobson, senior economist at Markit. Whether this growth recovery can be sustained will depend heavily on whether the current financial and political volatility spills over to the real economy, he added.