'Manufacturing growth slows to 3-month low'

China May factory PMI growth keeps pace with previous month

China May factory PMI growth keeps pace with previous month

Manufacturing activity in the United Kingdom decreased less than expected in May, easing concern over the British economy, industry data showed on Thursday.

The update comes after official figures last week showed the United Kingdom economy suffered an even deeper slowdown at the start of the year, as the services sector came under pressure and inflation dealt a blow to household spending.

For the full year as well, manufacturing, like several other industry components reported dismal numbers.

The index at 58.7 points indicated an increase in production at a faster rate, when compared to the 58.5 points in the previous month.

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The headline factory activity index on the IHS Markit/CIPS UK Manufacturing PMI edged down to 56.7 in May from April's three-year high of 57.3.

China manufacturing sector grew faster than expected in May as activity in the steel industry rebounded sharply, an official survey showed on Wednesday, allaying concerns of slowing economic momentum as Beijing cracks down on financial risks.

Of course we have the threat of an anti-business Corbyn government being installed in office in a week's time, but for now the ongoing expansion of the manufacturing sector has had a positive impact on both business sentiment and job creation.

Investec said Irish manufacturers reported faster growth in new orders to a three month high, with roughly twice as many respondents signaling a rise in new business as opposed to those who recorded a fall. "Meanwhile, inflationary pressures continued to ease", Balchin added.

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Manufacturing PMI of over 50.0 indicates expansion in the economy. "Last month we outlined our belief that the outlook for Irish manufacturing firms remains positive, supported by the improving global backdrop", Mr O'Sullivan said. Also noteworthy, there was a pick - up in the pace at which new orders from overseas increased.

'Output and orders expansion is being driven by resilient demand coming through United Kingdom supply chains and a better looking global economy than United Kingdom manufacturers have been used to for some time'.

The remaining six sub-sectors declined in the order: transportation equipment; nonmetallic mineral products; fabricated metal products; printing & related support activities; furniture & related products and computer & electronic products.

The Caixin reading showed customer demand was "relative subdued" at home and overseas, while new exports orders were equally sluggish.

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