Christmas comes early for UK manufacturing in November | KPMG | UK

Christmas comes early for UK manufacturing in November

Christmas comes early for UK manufacturing in November

Comments on the Markit/CIPS UK Manufacturing PMI figures published today.

1000

Also on KPMG.com

Stephen Cooper, head of manufacturing at KPMG UK, said:

"Although UK manufacturing growth felt a slight chill in November, the Christmas bells are ringing for a positive end to the year as the sector looks set to contribute to economic growth for the fourth quarter. 

"As expected, the exchange rate continues to support UK competitiveness, both globally and domestically, with increased demand being seen from the US, Middle East and mainland Europe.  

"Importantly for the UK, employment has risen for the fourth month in a row, however, the downside this month is a continued rise in the cost of inputs. Average purchase price rose at one of the fastest rates in survey history, and whilst some of this was passed on at the factory gate, manufacturers also bore some of the brunt. Given that the order book growth has dropped markedly since September, these higher costs may offset the positive effects of the exchange rate. In this climate of great uncertainty, manufacturers must, as always, keep a tight control of their cost base. 

"Globally, the picture looks positive as well with the Eurozone, US and Japan all posting positive results. Overall, Christmas seems to have come early for global manufacturing."  

Ends

For more information please contact:

Jo Chileshe, KPMG Corporate Communications

T: +44 (0)121 232 3343

M: +44 (0)7919 211 803

E: jo.chileshe@kpmg.co.uk

Follow us on twitter: @kpmguk

KPMG Press Office: +44 (0)207 694 8773

About KPMG

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.

Connect with us

 

Request for proposal

 

Submit