Manufacturing activity grew for the 13th month in a row in June as new orders hit their highest level in over three years, a new survey shows today.
The Investec Manufacturing Purchasing Managers’ Index rose to 55.3 in June from 55 in May, edging further above the 50 line dividing growth in activity from contraction.
The sub-index for new orders among manufacturers rose to 58.7 from 55.6, the highest level since February 2011.
The economy is forecast to grow by 2.3% this year, a Reuters survey of economists showed last week, more than the 2.1% expansion the Government has predicted.
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