Delaware cleaning firm keeping educational opportunity open
WILMINGTON, Del. (AP) — Faced with the prospect of the COVID-19 pandemic forcing them and others to lose out on...
04:58
It has been a few months of historic boom time for British factories thanks to the bounceback from the coronavirus recession.
July’s reading would have represented the strongest month seen since the financial crisis – had it not been for the even stronger growth in the previous few months.
Yet it’s striking how much of IHS Markit’s PMI release this morning focuses on the difficulties they face. Supply chain pressures look like they will be a constraining factor on factory output.
Shortages of raw materials, staff and transport have all hit companies. Delays at ports have been caused by extra Brexit bureaucracy as well as the pandemic and plain old traffic as companies try to import everything they need as soon as possible.
04:45
The FTSE 100 had pulled back marginally before the PMI data to a 0.8% gain, but now it’s back at 1% for the day.
04:39
UK factory output grew at among the fastest rates in history in July, but supply chains are showing signs of being overstretched as companies race to keep up with demand, according to its latest purchasing managers’ index (PMI).
The final reading of the IHS Markit/CIPS PMI dropped to 60.4 in July, down further from May’s record high of 65.6, but a continuation of the 14-month expansion since the pandemic’s effects on the UK economy became clear.
There were increased new orders and rising client confidence in July as the UK economy reopened. Restrictions on movement and gatherings were completely dropped on 19 July in England.
Yet companies are still facing problems (albeit problems they probably like to have) as they try to meet demand. IHS…
Read More: UK factories face shortages and cost increases as supply problems deepen –
WILMINGTON, Del. (AP) — Faced with the prospect of the COVID-19 pandemic forcing them and others to lose out on...
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