UK manufacturers remain resilient | KPMG | UK

UK manufacturers remain resilient

UK manufacturers remain resilient

Commenting on the UK’s latest Manufacturing PMI for the month of October, Stephen Cooper, Partner and head of industrial manufacturing at KPMG in the UK, said:

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Commenting on the UK’s latest Manufacturing PMI for the month of October, Stephen Cooper, Partner and head of industrial manufacturing at KPMG in the UK, said:

The UK’s manufacturing industry remains resilient, with the latest figures marking 15 consecutive months of expansion. Behind the positive start to the final quarter of 2017 are strong domestic market conditions and increasing export business, with the sterling exchange rate likely to be the most significant contributory factor.

The leaves however, are beginning to turn. Input costs have continued to rise, resulting in increased selling prices. As such, eyes will now be firmly fixed on the Bank of England’s interest rate decision, with a hike likely to impact investment decisions in the UK, as well as have potential implications for overseas demand.

With the Chancellor’s Autumn Budget on the horizon, manufacturers will be eager to learn of any measures that may impact productivity, such as support for innovation as well as technical education and skills. Similarly, the ongoing Brexit negotiations continue to leave the industry wondering what lies around the corner. The outcome of these may well be a real test of resilience.

 

 

-ENDS-

 


Notes to editor:

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