July Monthly Briefing

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Data Round Up

  • Manufacturing investment posted positive growth in the three months to March, after three consecutive quarters of contraction, increasing by 1.7%. This chimes with what we saw in our Manufacturing Outlook results earlier this year.
  • Manufacturing employment was also on the up, adding 9000 jobs to the UK economy in 2017q1.
  • The UK manufacturing PMI remained healthy. The latest reading of 54.3, although a three month low, helped to contribute to an average PMI level over the second quarter of 55.9 – a three year high. There were healthy readings across Europe too.
  • The Bank of England’s Monetary Policy Committee turned more hawkish in their latest meeting, voting 5-3 to hold interest rates at their currently record low level of 0.25%. This reflects the growing concern some members have regarding inflations upward trajectory.

 

You can read the full economic briefing here

 

 07-July-monthly-brief-data-summary 

 

07-July-monthly-brief-Lee-comments

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