UK manufacturing growth ebbs as new orders slow

Bloomberg

UK manufacturing growth slowed more than expected last month, casting doubt on the strength of the economy as Bank of England policy makers hold their crunch meeting.
IHS Markit’s Purchasing Managers Index for the industry fell to a three-month low of 54 in July, from 54.3 in June, the firm said in a report. The reading was below economists’ estimates for a figure of 54.2.
Markit said output growth slowed to a 16-month low, with production of intermediate goods falling for the first time in two years.
A weaker expansion of new work from domestic sources offset a stronger increase in export orders, while positive sentiment among manufacturers slid to a 21-month low, amid concerns over Brexit uncertainty and the exchange rate.