Stephen Cooper, KPMG’s Head of UK Industrial Manufacturing comments on the Markit/CIPS UK Manufacturing PMI for February 2014. He said:
“The recovery in UK manufacturing seems to be on an upswing with another month of increased PMI scores (now at +56.9). Strong growth in new orders and output has meant that employment in the sector is at its highest since May 2011. This is great news for the UK, and reflective of wider upwards trends in the UK economy where GDP figures increased in 2013 to 1.9%, the highest since 2007.
“On a global front, the US manufacturing sector has bounced back strongly in February after a slow start in January. This aligns with the overall solid underlying growth in US manufacturing over the past year. China on the other hand continues to show deteriorating manufacturing conditions; this has been linked to the country’s fragile economic situation. Against these varying global trends, it is positive that UK manufacturing has been consistently moving upwards.”
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Nahidur Rahman, KPMG Press Office
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This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.