LONDON, Sept. 1 (Xinhua) -- Britain's manufacturing purchasing managers' index (PMI) fell to a five-month low in August as growth in both output and new orders lost momentum, data from the S&P Global showed on Tuesday.
The seasonally adjusted S&P Global UK Manufacturing PMI stood at 51.7 in August, down from 51.9 in July but above the earlier flash estimate of 51.5, according to the company.
However, the figure has posted above the neutral 50.0 mark separating expansion from contraction for 10 months in a row.
"The rate of expansion in the UK manufacturing sector cooled in August, with output and new order growth losing traction," said Rob Dobson, director at S&P Global Market Intelligence.
But he said the slowdown was mainly driven by a reduced focus on maintaining precautionary stocks as economic uncertainty eases, especially as domestic and overseas clients continue to show a willingness to spend albeit with a relatively high degree of caution.
S&P Global also noted that the outlook of the sector showed greater signs of positivity, with business optimism rising to a six-month high and average purchase price inflation slowing for the third consecutive month in August.
