Uncertainty shrouds manufacturing sector outlook | KPMG | UK

Uncertainty shrouds manufacturing sector outlook, says KPMG

Uncertainty shrouds manufacturing sector outlook

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

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Stephen Cooper, head of industrial manufacturing at KPMG UK, comments on the IHS Markit/CIPS UK Manufacturing PMI released today. He said:

 

“The UK manufacturing sector saw a mild improvement in performance in May, which on the face of it is great news. However, a slowdown in new orders, creeping inflation and supply chain constraints means that business need to be constantly alert to the changing conditions; the steepest build-up of finished goods inventories in the 26-years and the European PMI suggesting weakening confidence in manufacturing (albeit in positive territory) provide a further caution.

 

“KPMG‘s Global CEO Outlook, published this week, points to the geopolitical situation as a key concern regarding growth - the uncertainty it brings in the form of trade wars and sanctions and the continued lack of clarity for trading arrangements under Brexit, all have a direct impact on manufacturing meaning that businesses cannot be complacent.”

 

ENDS

 

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Nahidur Rahman, KPMG corporate communications

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Notes to Editors:

 

About KPMG

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 154 countries and territories and has 200,000 people 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.

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