Deloitte comments on Markit / CIPS UK Manufacturing PMI
1 June 2015
Commenting on the latest Markit / CIPS UK Manufacturing PMI released today, Mark Stephenson, UK manufacturing industry leader at Deloitte, said:
"The slight increase of the PMI by 0.2 to 52.0 comes on the back of a very long period of sustained growth for the manufacturing sector, and adds to the list of reasons for manufacturers to be positive."
"Last week’s Q1 GDP data may have only shown small growth compared to the previous quarter, but there was still strong growth of 1.3%, when compared to Q1 2014."
"Coupled with increased GDP forecasts for key industrial nations such as the USA and Germany, and a strong dollar aiding UK exports, there is a positive outlook for the British manufacturing industry. This reinforces the fact that the sector plays a fundamental part in the UK’s economic growth story."
"However, it is not quite a perfect picture. Doubts remain over the UK’s future in the EU and weakness in the European economy has resulted in challenging export conditions to the sector’s largest export market."
Notes to editors
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