UK manufacturing slows but continues to grow

The
UK manufacturing industry continued to grow in June, albeit at a slightly
slower pace.

The
Chartered Institute of Purchasing and Supply (CIPS) Managers’ Index, which
draws together data from a series of separate indices to measure overall
activity, stood at 54.8 last month.

Although
this figure was lower than the 55.7 in May, it is still the 12th consecutive
month that the index has shown overall expansion of the UK manufacturing
economy.

Any
score above 50 in the CIPS survey represents growth, while a figure below 50
signals a decline. The figures are once again in contrast to official figures
that show the sector to be in decline.

The
Office for National Statistics said last month that manufacturing output fell
during the first three months of 2004.

By Mike Berry

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