Manufacturing recovery accelerated in June

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Britain’s manufacturing sector grew at its fastest rate in more than two years last month, in the latest sign that the economic recovery is gathering pace.

The Markit/CIPS purchasing managers’ index (PMI) hit 52.5 in June, up from a revised reading of 51.5 in May.

It is the third month on the trot in which the manufacturing sector PMI has scored above the neutral mark of 50. The rate of improvement was the steepest for 25 months.

Rob Dobson, senior economist at Markit, said the recent readings suggested the sector expanded by about 0.5 per cent in the second quarter.

He said: “The UK manufacturing sector made positive strides on the recovery path during the second quarter of the year.

“June saw output and new order growth hit rates not seen since early 2011, as a brightening domestic market and resilient overseas demand led to a broad-based expansion across the sector.”