UK manufacturing keeps up momentum in May | KPMG | UK

UK manufacturing keeps up momentum in May

UK manufacturing keeps up momentum in May

Justin Benson, a director in KPMG’s manufacturing practice, comments on the Markit/CIPS UK Manufacturing PMI figures published today.

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He said: “The manufacturing sector PMI shows another solid performance this month, with its tenth month of improvement in operating conditions. The continuing strength of the domestic market was the primary driver, although an increase in export business played its part in this month’s score of 56.7. It’s also reassuring for manufacturers and those in the industry seeking work, as job creation for factory workers has been boosted, rising again for the tenth consecutive month.

“The British industry is clearly taking advantage of the weaker sterling whether it be in EU or global markets. The global economy is growing and British manufacturers can go into the next 12 months with confidence, taking advantage of the market opportunities and demonstrating continued resilience. Brexit negotiations start later this month and manufacturers across the country will be ready to respond to change as they always do. However, politicians and negotiators must ensure that maintaining a healthy trade environment for British manufacturing and engineering businesses is high on their agenda.”

 

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