Britain's manufacturing contraction eases in July but outlook remains weak

LONDON, Aug. 1 (Xinhua) -- Britain's manufacturing downturn showed signs of easing in July, with the seasonally adjusted Manufacturing Purchasing Managers' Index (PMI) rising to a six-month high of 48, according to data released by S&P Global on Friday.

The July PMI was slightly higher than 47.7 in June, but the index has now signalled contraction for ten consecutive months. S&P Global noted that risks persist, including fragile domestic and overseas market conditions, subdued consumer confidence, and manufacturers' ongoing concerns about costs.