Key facts
- UK manufacturers saw production levels rise for the ninth consecutive month.
- Manufacturing output reached a near two-year high in July.
- The data comes from S&P Global's PMI survey.
- Employment growth remained subdued.
- Concerns persist over energy costs.
- Concerns persist over geopolitical instability.
- Manufacturers expressed optimism about future output.
UK manufacturers have reported a significant increase in production levels, marking the ninth consecutive month of growth. In July, output reached its highest point in nearly two years, according to the latest PMI survey from S&P Global. This sustained expansion in manufacturing output occurs amidst prevailing economic uncertainty. Despite the positive trend in production, the survey highlights that employment growth within the sector has remained subdued. Manufacturers continue to voice concerns over persistent challenges, including elevated energy costs and the broader implications of geopolitical instability. Nevertheless, there is a degree of optimism regarding future output, suggesting that businesses anticipate further growth, albeit cautiously given the existing headwinds.