According to Jinshi, a survey on Monday showed that after a long slowdown, the British manufacturing industry resumed growth last month. However, rising corporate prices may exacerbate the Bank of England's caution about cutting interest rates. The final value of the S&P Global UK Manufacturing PMI in May rose to 51.2 from 49.1 in April, the second time in 22 months that it exceeded 50 and the highest point since July 2022. Both output and new order levels have recorded the fastest growth since the beginning of 2022, and the recovery is broad-based. Although the latest recovery relies mainly on the strengthening of the domestic market, there are also signs that overseas demand is also closer to stabilization. Factory prices accelerated for the fifth consecutive month, the largest increase in a year, but Rob Dobson, director of S&P Global Market Intelligence, said that the slowdown in cost growth should help prevent price pressures from forming.
