UK, China factory output increased in July

The British manufacturing sector recorded its best monthly result since March 2011, and China also registered growth in July.

The July Markit/CIPS PMI survey gave an overall result of 54.6 for July, following June’s 52.9, reports Reuters.

Any result above 50 indicates growth, and below it reflects contraction.

"Today's data provide positive news across the growth, prices and jobs fronts, as manufacturing output and new orders expanded at the fastest rates since February 2011, price pressures remained relatively subdued and the pace of payroll expansion hit a two-year high,” Markit’s Rob Dobson said, according to the Xinhua news agency.

"There is also a strong export component in these positive numbers, as UK manufacturers benefited from the sharpest growth in new export orders for two years."

Meanwhile, China’s official PMI showed slight growth, bucking expectations made by many economists.

Business Spectator notes that the Chinese result of 50.3 was up from the previous month’s 50.1, and was contrary to expectations  made by economists polled ahead of the result by Bloomberg.