UK Final Manufacturing PMI meets estimates with 60.4 in July, GBP/USD stays above 1.39
The UK manufacturing sector activity steadied in July, the final report from IHS Markit confirmed on Monday.
The seasonally adjusted IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) was held steady at 60.4 in July while matching expectations.
Key points
“Output and new order growth ease to four-month lows.”
“Stretched supply chains lead to sharp rise in costs.”
Rob Dobson, Director at IHS Markit, commented on the survey
“Although July saw UK manufacturers report a further month of solid growth, scarcities of inputs, transport and labor are stifling many businesses.”
“On one hand, manufacturers are benefiting from reopening economies. This is leading to solid inflows of new work from both domestic and overseas markets, including the US, the EU, China and the Middle-East.”
GBP/USD reaction
GBP/USD is easing off daily highs of 1.3933 on in-line with expectations UK Final Manufacturing PMI. The spot was last seen trading at 1.3923, still up 0.15% on the day.