Deloitte comment on Markit / CIPS UK Manufacturing PMI
1 October 2015
Commenting on the Markit / CIPS UK Manufacturing PMI* released today, Mark Stephenson, UK manufacturing industry leader at Deloitte, said:
“Although today’s PMI of 51.5 once again emphasises the continued long-term growth in the industry, the small dip of 0.1 reflects the challenges impacting the confidence of UK manufacturers right now.
“These of course include the recent high profile scrutiny on the automotive manufacturing sector; a strong Pound and weak Euro continuing to make for difficult export conditions and squeezed margins; and the prolonged period of economic volatility in China creating supply chain uncertainty and impacting demand. All of these factors mean that the remainder of the year could be challenging for the industry.
“Yet domestic demand remains strong. The PMI remaining over 50.0 demonstrates that overall, the industry still remains resilient. Many organisations are focusing on advancing manufacturing processes, using data and technology to inform and accelerate changes, and investing in skills and talent. All of these should strengthen growth in the longer-term.”
Notes to editors
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.
Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.
The information contained in this press release is correct at the time of going to press.
Member of Deloitte Touche Tohmatsu Limited.
* The Markit/CIPS UK Manufacturing PMI® is based on data compiled from monthly replies to questionnaires sent to purchasing executives in over 600 industrial companies. The panel is stratified geographically and by Standard Industrial Classification (SIC) group, based on the regional, and industry contribution to GDP. See more at: www.markiteconomics.com