Stephen Cooper, Head of Industrial Manufacturing at KPMG in the UK comments on the Markit/CIPS Manufacturing PMI data released today.
Commenting on the Markit/CIPS Manufacturing PMI data released today, Stephen Cooper, head of industrial manufacturing at KPMG in the UK said:
“Whilst the results for January showed slower growth compared to the high end of 2017, the UK’s manufacturing sector is still in robust health.
“All three big trading blocs - Europe, the US and China - are in expansionary mode. Our clients recognise the need to understand how this translates into their supply chains, and the consequential increases of input prices and inflation. So I’d advise UK manufacturers to know their supply chains, the pressures therein and ensure security around the delivery of essential materials.
“There are some concerns around the availability of materials and input inflation, which is leading to advanced ordering to avoid future price rises, so UK manufacturers need to manage this carefully and be mindful of the implications this may have on their working capital.”
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KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 14,500 partners and staff. The UK firm recorded a revenue of £2.2 billion in the year ended 30 September 2017. 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 describes itself as such.