Press releases

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

1 February 2022

The UK PMI data for January shows a reading of 57.3, down from 57.9 in December. Responding to this, Deloitte’s UK manufacturing leader James Williams said:

“Despite a flattening in the monthly reading, positivity within the manufacturing sector is continuing to grow. Inventory rebuilding seems to be a key driver of activity, with stock purchases rising at the fastest pace in the survey’s history. Companies are protecting themselves against the risk of continued supply chain disruption, as well as locking in prices today, given fears about cost inflation.

“However, looking at the wider picture, there are welcome early signs of an easing in price pressures and supply constraints. This marries with findings from our regular surveys of CFOs who expect supply constraints to ease significantly over the course of this year.”

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