UK PMI Manufacturing was finalized at 60.3 in August, a tick down from July’s 60.4. Market said output growth slowdown exacerbated by input supply issues. Input cost and selling price inflation remained close to survey records.
Rob Dobson, Director at IHS Markit, said: “Severe disruptions to supply chains and raw material shortages eroded the growth momentum of UK manufacturing in August…. With all of these factors likely to persist for the foreseeable future, manufacturing could well see a further growth slowdown in the coming months…. The impact of supply issues is also feeding through to rapid price inflation… Business confidence remained elevated despite the widespread shortages as firms focused on the longer-term outlook and brought back furloughed workers.”
