UK manufacturing kicks off 2017 on the right foot

UK manufacturing kicks off 2017 on the right foot

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

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He said: “Manufacturers have had a bumper start to 2017, boosted by the exchange rate, which continues to make Britain competitive. A continued welcome increase in new orders, primarily from domestic sources, as well as overseas, has meant that the UK Manufacturing PMI has seen continuous growth for the last six months, which is great news for UK manufacturers and the economy.

“However these results also sound a note of caution and show evidence of the fastest rise in input costs for 25 years. Manufacturers have responded with an increase in selling prices, which may in turn begin to drive consumer price inflation. Continued high demand for raw materials is testing the capacity of some suppliers and leading to shortages in certain inputs. As ever, manufacturers should ensure they practice good supply and operational planning, and have an awareness of their extended supply chain.”

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For more information please contact:
Jo Chileshe, KPMG Corporate Communications
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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 13,500 partners and staff.  The UK firm recorded a revenue of £2.07 billion in the year ended 30 September 2016. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 152 countries and has 189,000 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
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