INSTANT VIEW - Factory PMI higher than expected in June
LONDON (Reuters) - Manufacturing activity fell at its slowest pace in more than a year as output rose for the first time in 15 months, a survey showed on Wednesday. The figures provide further evidence that the economy may have started to emerge from recession, but are unlikely to alter the view that monetary policy will remain loose for some time to come.
KEY POINTS
- Headline PMI index highest since May 2008
- Manufacturing output index above 50 for first time since March 2008, highest since Feb 08
- New orders index highest since March 2008
- Employment index highest since Aug 2008
- Quantity of purchases index highest since March 2008
ANALYST REACTION
JAMES KNIGHTLEY, ECONOMIST, ING Continued...
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