U.K. PMI rises to 7-month high

|By:, SA News Editor

The pound is up to new multiyear highs at $1.7139 after the U.K. PMI unexpectedly rises to 57.5 in June from 57 the previous month. Forecasts were for a dip to 56.8. The New Orders subindex rose to 61 from 59.5%. The FTSE 100 is ahead 0.5%.

Markit's Rob Dobson: "With levels of production surging higher, and order books swollen by a further upswing in demand from both domestic and overseas clients, job creation accelerated to its highest for over three years."

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