India, Aug. 1 -- The UK manufacturing downturn slowed in July as output contracted at a slower pace and business optimism hit a five-month high, survey data from S&P Global showed on Friday.
The final factory Purchasing Managers' Index rose to 48.0 in July from 47.7 in the previous month. The flash score was 48.2. The reading signaled contraction in each of the past ten months.
S&P Global Market Intelligence Director Rob Dobson said, the UK manufacturing sector is starting to send some tentatively encouraging signals.
"However, it's clear that there's no assured path back to strong growth," Dobson added.
The survey showed that manufacturing output shrank for the ninth straight month but the latest fall was only mild.
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