S&P Global final PMI shows UK manufacturing cooled in June as firms stockpiled
ahead of price rises and Middle East-related supply risks. The manufacturing PMI
fell to 52.5 (initial 53.1; May 53.9). The output subindex rose to 52.6, its
highest since Sept 2024, but new orders growth slowed sharply, echoing a CBI
survey last week. S&P analyst Rob Dobson said stockpiling has lifted output but
the drop in new order intake suggests that boost is starting to fade, raising
questions about sustaining Q2 momentum.