PMI Enters Enlargement Zone in the UK
The UK’s manufacturing sector purchasing managers index (PMI) hit 50.1 in June, CIPS and IHS Markit said in a statement. The index was at 40.7 in May.
The expectations of the 34 economists participating in the survey varied between 50 and 41.3 levels.
The index, which reached the 48 levels in the same period of 2019, entered the expansion area with 50.1 in June of 2020 and has reached its highest level since February. While service PMI in the country is also expected at 40, it has exceeded expectations and climbed to 47.
The new orders received in June climbed from 35.2 in May to 47.4.