UK manufacturing accelerates in September

UK manufacturing accelerates in September

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

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

“Summer is over, a new term has begun and manufacturers are back to work with a bang, after another impressive PMI result. After the uncertainty of the summer months, it is hugely encouraging to see the growth in new orders, both domestic and overseas, driving higher employment rates and input buying volumes. While it’s tempting to put this down to the exchange rates, the domestic market was a significant contributor too, showing a bounce-back of confidence since the Brexit result. 

“The pressure is now on the supply chain to keep pace with manufacturers’ increasing order books. Our research has suggested that only 13% of manufacturers have complete visibility past their Tier 1 suppliers, and whilst the order book is growing, they should seek to ensure that their supply chain is up to the challenge.

“The picture also looks encouraging throughout the major manufacturing nations, with Germany posting a three month high of 52.6, six of the Eurozone nations showing growth and Japan also showing signs of returning to growth, after a short contraction in August. All in all, we’re seeing a strong start to autumn for manufacturing globally.” 
 

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For more information please contact:

Jo Chileshe, KPMG Corporate Communications

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M: +44 (0)7919 211 803
E: jo.chileshe@kpmg.co.uk

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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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