In June of this year UK manufacturing showed its strongest growth in two years. This appears to have boosted many people’s hopes of an economic recovery. The purchasing managers’ index (PMI) was 52.5 last month, which is a strong indication of growth since any figure above 50 is considered an improvement.
The economy in general grew by 0.3% in the first 3 months of the year with the services sector looking robust as well as a stabilisation within the construction industry.
More home loans have been approved which also means the housing market is doing better. These are all positive signals that the business sector as a whole is looking in far better shape.