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

The UK PMI data for March shows a reading of 55.2, down from 58.0 in February. Responding to this, Deloitte’s UK manufacturing leader James Williams said:

“There is some positivity hidden in the negative headlines, in terms of the UK's manufacturing sector. Production is still expanding, employment is up and new orders are increasing albeit at a slower rate. Demand from the UK market has more than offset the decrease in export orders, where some sales were lost due to distribution delays.

“While the general economic outlet is still in a state of shock from inflationary pressures, geopolitics and rising interest rates, the UK's manufacturers remain optimistic. They will be sticking to their long-term objective of investing for a sustainable future and decarbonizing their industry.”

-ENDS-

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