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2025-08-01 16:31:17
UK Manufacturing PMI Contracts for Tenth Consecutive Month, But Are There Signs of Recovery? (1) A survey released on Friday (August 1st, Beijing time) showed that the UK manufacturing sector is gradually emerging from the recent difficulties caused by tariff talk and tax increases. (2) The manufacturing Purchasing Managers' Index (PMI) improved for the fourth consecutive month in July, rising to 48.0 from 47.7 in June. (3) Although the index remained below the 50.0 boom-bust line for the tenth consecutive month, it was the slowest monthly contraction since January. (4) Optimism among UK manufacturer executives also reached a five-month high. (5) Rob Dobson, Director of S&P Global Market Intelligence, noted that the UK manufacturing sector has begun to show some initial positive signs. (6) However, as businesses face higher labor costs, the sector's employment indicator has fallen again, and jobs may be further affected in the coming months. (7) Dobson believes that manufacturers are likely to remain cautious before Chancellor of the Exchequer Rachel Reeves releases her new annual tax and spending plans in the fall. ⑻ With the Bank of England expected to cut interest rates next week, it will assess the persistence of inflationary pressures and the extent of the sluggish job market
