Britain’s rollercoaster manufacturing sector appears to have bounced back from the 5.3% fall in production recorded in June.
The eye-watering drop two months ago was attributed to the impact of the Queen’s Golden Jubilee and the soccer World Cup, though some feared the sector might have been edging towards recession again.
However, the Chartered Institute of Purchasing and Supply’s monthly manufacturing index rose from 49.1 last month to 51.0 in August, crossing the 50.0 threshold between contraction and expansion, with the barometer of output jumping from 50.2 to 55.
June’s downturn is consequently seen as a one-off fall in an otherwise upward trend.
Data sourced from: The Times (London); additional content by WARC staff