Manufacturing output: It’s not all gloom and doom ahead
10 February 2016
Commenting on the Office for National Statistics’ Index of Production figures for December released today, Mark Stephenson, UK manufacturing industry leader at Deloitte, said:
“December’s decreased manufacturing output highlights the real challenges of UK manufacturers in an uncertain climate.
“Export conditions remain tough with a weak Euro and decreasing manufacturing output in the Eurozone. Continuing factory output shrinkage in China is affecting global markets and growth forecasts for manufacturers. Considerable headwinds clearly remain, but it's not all doom and gloom.
“Whilst the manufacturing PMI had a dip in December, it rose up again in January. Domestic demand remains strong with consumer credit confidence and spending continuing to rise. 2015 also represented a 10-year high in car production. Looking ahead, even a weakening Pound could boost exports for UK manufacturers.”
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.