FX.co ★ UK Manufacturing Growth Eases to 4-Month Low

The S&P Global UK Manufacturing PMI slipped to 51.9 in July 2026, a four‑month low, down from 52.5 in June and below the flash estimate of 52.8. Although the headline index weakened, it remained above the 50.0 threshold for a ninth consecutive month, indicating that the sector continued to expand.

Manufacturing output rose for a fourth straight month and grew at its fastest rate in nearly two years. New orders increased for an eighth consecutive month, while export sales advanced for a seventh month in a row. However, business sentiment fell to a three‑month low, as firms remained wary of global trade tensions, prospective tax changes, and ongoing regulatory uncertainty.

Employment continued to grow but at the slowest pace of the current recovery, underscoring firms’ caution around hiring. At the same time, both input cost and output price inflation eased further, reflecting moderating supply chain pressures. Purchasing activity and inventories declined, in line with softer demand for inputs and improved supplier delivery times.