UK manufacturing on a high in August

UK manufacturing on a high in August

Stephen Cooper, head of manufacturing at KPMG UK, comments on the Markit/CIPS UK Manufacturing PMI figures published today.

Also on KPMG.com

He said: “The August UK PMI results are spectacular for UK manufacturing. Reports of postponed work and delayed projects being restarted, following the EU referendum, are amongst the reasons cited for the better than expected performance. The 10% fall in the value of sterling has had a marked impact on export orders too. 

“One swallow does not a summer make, and as autumn progresses, we will see if this is a blip, or whether it’s the start of a long-term trend.

“UK manufacturers need to continue to use the momentum of their newfound competitive price for as long as possible, and, as ever, to continue to practice careful management, and accurate forecasting of the supply chain, particularly with the unwelcome pickup in input pricing reported this month.”  

ENDS

 

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Notes to Editors:

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KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff.  The UK firm recorded a revenue of £1.96 billion in the year ended September 2015. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 174,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  Each KPMG firm is a legally distinct and separate entity and describes itself as such. 

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