If you read City A.M. this morning you would have seen an extremely positive article regarding to continued upward trend of the UK economy, so much so that UK manufacturing is expanding faster than any other global economy. Here is the article: The UK now leads the pack when it comes to manufacturing sector growth, posting the best outlook in new orders of any country assessed by Markit. A stronger than expected purchasing manager’s index number suggests that the UK’s manufacturing sector is expanding faster than any other. In fact, today’s data beat was so good that we’ve not seen it since February 2011. Rob Dobson, senior economist at survey compilers Markit:
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. The near-term outlook for output also remains on the upside, as above-trend sales growth depleted inventories that manufacturers will need to rebuild later in the year. Job creation is still weaker than hoped for, but this should improve if solid demand growth is sustained and eats into spare capacity.