UK manufacturing holds steady in October | KPMG | UK

UK manufacturing holds steady in October

UK manufacturing holds steady in October

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 in the UK, said: “This month saw continuing growth for the UK manufacturing sector, with a PMI result of 55.4.  In large part this was down to the devaluation of sterling, something manufacturers credit with helping them to increase their order book. As expected, the exchange rate is being reflected in rising input costs, which are now feeding through to selling prices at factory gate.

“Employment is also on the up, which is great news and something the government should take heed of, as many manufacturers are calling out for access to talent throughout the Brexit negotiations. 

“It will be interesting to see what comes out of the European PMI, however, it’s encouraging to see the global picture looking positive, with China posting its fastest pace of improvement since 2011, Japan posting their highest reading in nine months and the US recording their strongest upturn in business conditions for 12 months.”

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