The upturn in UK manufacturing showed signs of losing momentum at the end of the second quarter. Although output growth accelerated as companies continued to benefit from clients' strategic stockpiling, a softer uplift in incoming new orders suggested the impetus provided by this was already starting to fade. The seasonally adjusted S&P Global UK Manufacturing Purchasing Managers’ Index™ (PMI®) posted 52.5 in June, down from May's four-year high of 53.9 and the earlier flash estimate of 53.1. The PMI has signalled expansion in each of the past eight months. Four of the five PMI sub-components were at levels ... (full story)