Preliminary July services PMI 52.4 vs 52.1 in June (Il Sole 24 Ore Radiocor) - London, 24 Jul - In July, the UK's purchasing managers' index (PMI) for the manufacturing sector rose to a 24-month high of 51.8 from 50.9 in June, according to preliminary data released by S&P Global.

The manufacturing output index rose to a 29-month high of 54.4, up from 53.3 over the period.

The services sector PMI grew to 52.4, a two-month high, from 52.1.

The composite output index, a weighted average of services PMI and manufacturing output, increased to 52.7 in July from 52.3 the previous month, reaching a two-month high.

A reading above 50 signals expanding sector activity and a reading below 50 a contraction.

'The flash PMI survey data for July signal an encouraging start to the second half of the year, with output, order books and employment all growing at faster rates amid rebounding business confidence, while price pressures moderated," said Chris Williamson, chief business economist at S&P Global Market.

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(RADIOCOR) 24-07-24 10:52:00 (0335) 5 NNNN