British manufacturing activity grew for a ninth straight month in July, but at the slowest pace in four months, according to the S&P Global Purchasing Managers’ Index.

Its reading fell to 51.9 in July from 52.5 in June, and weaker than an earlier provisional reading of 52.8. Any level above 50 represents growth.

July brought further encouragement for the UK manufacturing sector, as rates of growth in output, new orders and new export business all accelerated. The increase in production was the fastest in almost two years, as improving market conditions led to better hit rates in securing new contracts.

There was also positive news on the price and supply fronts. The rate of increase in input costs slowed sharply to a five-month low as supply chain delays eased to their lowest since the outbreak of the war in the Middle East. Better resource availability and supplier reliability will hopefully provide further respite to squeezed supply chains in the months ahead, though developments in the Middle East will be key to supply and price developments in the coming weeks.