Mumbai, Aug. 1 -- The seasonally adjusted S&P Global UK Manufacturing Purchasing Managers' Index (PMI) rose to a six-month high of 48.0 in July, up from 47.7 in June but below the earlier flash estimate of 48.2. The PMI has signaled contraction in each of the past ten months.
The start of the third quarter saw the UK manufacturing downturn show signs of easing. The rate of contraction in output slowed to its weakest in the current sequence of decline and business optimism rose to a five-month high.
There remained risks to the downside, however, including persistently weak domestic and overseas market conditions, subdued client sentiment and manufacturers concerns about the ongoing implications of government budget decisions.
Manufacturin...