UK Manufacturing Activity Accelerates in July

By Wiktor Szary Features Dow Jones Newswires

U.K. manufacturing activity growth accelerated in July, as strong exports boosted orders, a survey showed Tuesday.

Continue Reading Below

The purchasing managers' index for British manufacturing rose to 55.1 in July from June's downward-revised reading of 54.2. The 50-points line separates expansion from contraction.

The result beat expectations of analysts polled by The Wall Street Journal, who forecast a reading of 54.9.

"U.K. manufacturing started the third quarter on a solid footing," said Rob Dobson, senior economist at IHS Markit, which compiles the survey.

"Although the exchange rate remains a key driver of export growth, manufacturers also benefited from stronger economic growth in key markets in the euro area, North America and Asia-Pacific regions," he said.

Write to Wiktor Szary at Wiktor.Szary@wsj.comSzary

Continue Reading Below

(END) Dow Jones Newswires

August 01, 2017 05:03 ET (09:03 GMT)