U.K. manufacturing activity growth slowed in June to a three-month low, with new business growth deaccelerating in domestic as well as foreign markets, a survey showed Monday.
The purchasing managers' index for British manufacturing fell to 54.3 in June from May's downward-revised reading of 56.3.
This was below the expectations of analysts polled by The Wall Street Journal, who forecast a broadly steady pace of expansion and a reading of 56.5.
While the second-quarter PMI readings suggest the U.K. economy grew at a faster pace than in the first quarter of 2017, which saw a mere 0.2% growth in gross domestic product, "further doubts are raised as to whether this performance can be sustained into the second half of the year," said Rob Dobson, senior economist at IHS Markit, which compiles the survey.
-Write to Wiktor Szary at Wiktor.Szary@wsj.com
(END) Dow Jones Newswires
July 03, 2017 05:12 ET (09:12 GMT)