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