UK Manufacturing Growth Eases In August

(RTTNews) - The UK manufacturing activity expanded at the weakest pace in five months in August as rates of growth in both output and new orders lost momentum, final survey data from S&P Global showed Tuesday.

The manufacturing purchasing managers' index dropped to 51.7 in August from 51.9 in July. However, a score above 50 indicates expansion in the sector. The flash reading was 51.5.

Output grew at the weakest pace in five months in August. The overall expansion was supported by increased intakes of new work, with demand from both domestic and overseas clients improving.

Export orders increased for the eighth successive month in August amid robust demand for consumer and investment goods along with more gains from mainland China, the US, the Middle East, and Western Europe.

Rising production requirements forced firms to raise their workforce numbers at the quickest pace for two years. Supply chain pressures persisted in August, though average supplier lead times lengthened to the least marked extent for six months.

On the price front, input price inflation eased to the weakest level since February, and selling prices rose at the slowest pace in six months.