Market Commentary and Intraday News

Scottish Private Sector Growth Accelerates In June

318 days ago

(RTTNews) - Scotland's private sector expanded strongly in June, recovering from the previous month's near-stagnation levels, data from a survey by Markit Economics and the Bank of Scotland showed Monday.

The seasonally adjusted purchasing managers' index (PMI) for the private sector, which covers both the manufacturing and service sectors, rose to 52.5 in June from May's 17-month low of 50.8, which was marginally above the no-change 50 mark that separates growth from contraction.

Output in the sector increased at a faster rate in June. In line with the growth in output, private sector firms increased their workforces after employment levels stagnated in May.

New orders received by the Scottish service sector increased marginally in June, as an increase in service sector orders was offset by a third successive monthly decrease in new work received by manufactures.

Average output prices gained modestly during the month, mainly reflecting a rise factory gate prices and contrasting with slight charge deflation across the UK economy as a whole.

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