UK manufacturing PMI edges higher in May

Markit's UK construction Purchasing Managers' Index edged 0.2 higher last month to 52, marking the 26th consecutive month the index has remained above the neutral 50.0 threshold.

UK manufacturing production rose in May for the 27th month in a row, while rate of growth in new orders edged higher from April's seven-month low, boosted by solid domestic demand and increasing client confidence.

“Expectations of a broad rebound in UK economic growth during the second quarter of the year are called into question by these readings," said Rob Dobson, senior economist at survey compilers Markit.

"Manufacturing looks on course to act as a minor drag on the economy, as the sector is hit by a combination of the strong pound and weak business investment spending."