Deloitte's UK manufacturing leader, James Williams, comments on today’s PMI figures

Deloitte's UK manufacturing leader, James Williams, comments on today’s PMI figures

The UK PMI data for June shows a reading of 52.8, down from 54.6 in May. Responding to this, Deloitte’s UK manufacturing leader James Williams said:

“The cost of living crisis is now having an impact on manufacturing activity, which had been quite resilient throughout the pandemic. It is a sign of things to come, as manufacturers are reporting a sharp squeeze on new orders from consumer-facing businesses.

“Nonetheless, the twin headwinds for manufacturers of input cost pressures and supply-chain constraints seem to have peaked meaning there is some optimism around long-term growth expectations. Manufacturers still expect output to be higher one year from now.”

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