U.K. manufacturing PMI falls to the lowest level in two years

The S&P Global/CIPS manufacturing Purchasing Managers’ Index (PMI) for the United Kingdom fell to 52.8 in June from 54.6 in May, the lowest level in two years.

The PMI index was hurt by a slowdown in new orders, which fell for the first time since January 2021. At the same time, business confidence fell to its lowest level since May 2020, even though employment increased.

The PMI remains above 50, suggesting that the U.K. manufacturing sector continues to expand.

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