PMI survey shows UK firms returned to growth in July for the first time in three
months, aided by a brief respite amid the Iran war and marking the most positive
reading since the conflict began. Preliminary composite PMI rose to 52.1 in July
from 49.3 in June, beating a market forecast of 49.7; services PMI climbed to
51.8 from 48.8 (highest since April) and manufacturing PMI edged up to 52.8 from
52.5. S&P Global Market Intelligence chief business economist Chris Williamson
said hotels have benefited from hot weather, the World Cup and domestic holidays
as high costs and uncertainty curb overseas travel.
