Just below preliminary estimate of 51.3 (Il Sole 24 Ore Radiocor) - London , 03 Jun - In May, the UK's purchasing managers' index for the manufacturing sector rose to 51.2 from 49.1 in April, just shy of the flash estimate of 51.3, according to the latest survey released by S&P Global.

A reading below 50 signal contracting sector activity.

'May saw a solid revival of activity in the UK manufacturing sector, with levels of production and new business both rising at the quickest rates since early-2022," said Rob Dobson, director at S&P Global Market Intelligence. "The breadth of the recovery was also a positive, with concurrent output and new order growth registered for all of the main subindustries (consumer, intermediate and investment goods) and all company size categories for the first time in over two years.

"While the latest upturn was dependent on a strengthening domestic market, there were signs of overseas demand also moving closer to stabilisation. Business optimism rose in tandem with the improvement in current conditions, with 63% of manufacturers forecasting their output to be higher one year from now.".

AAA-Hob

(RADIOCOR) 03-06-24 10:45:05 (0218) 5 NNNN