S&P said UK manufacturing’s rapid expansion may be temporary after the final May PMI rose to 53.9 from 53.7, a four-year high. S&P said much of the upswing reflects firms front‑loading purchases to hedge expected price rises and delivery delays tied to the Middle East/Iran conflict, creating a marked divergence from the broader economy. Domestic uncertainty, including a continued challenge to Prime Minister Starmer’s leadership, could begin to weigh on consumer spending and corporate decisions.

2026-06-01

S&P said UK manufacturing’s rapid expansion may be temporary after the final May PMI rose to 53.9 from 53.7, a four-year high. S&P said much of the upswing reflects firms front‑loading purchases to hedge expected price rises and delivery delays tied to the Middle East/Iran conflict, creating a marked divergence from the broader economy. Domestic uncertainty, including a continued challenge to Prime Minister Starmer’s leadership, could begin to weigh on consumer spending and corporate decisions.