UK manufacturing steadies in June after historic slide

The historic collapse in British manufacturing caused by the coronavirus lockdown abated in June as companies reported a small increase in output, according to IHS Markit survey

The IHS Markit/CIPS UK manufacturing Purchasing Managers’ Index (PMI) rose to 50.1 from 40.7 in May, unrevised from a preliminary reading and creeping back above the 50 line that signifies growth for the first time since February.

“Output edged higher and domestic demand firmed as lockdown restrictions loosened, factories restarted and staff returned to work,” said Rob Dobson, director at IHS Markit, which compiles the survey.

“The planned loosening in COVID-19 restrictions on July 4 should aid further gains in coming months.”