Deloitte comment on the Markit / CIPS UK Manufacturing PMI
3 August 2015
Commenting on the Markit / CIPS UK Manufacturing PMI* of 51.9 released today, an increase of 0.5 on the prior month, Mark Stephenson, UK manufacturing industry leader at Deloitte, said:
“The PMI has remained above 50 for well over two years now, with today’s figures emerging during what has been a mixed month of data for the UK manufacturing industry.
“Manufacturing GDP figures announced last week indicated a drop in output in Q2 of 2015. The sector continues to face real export challenges to Europe from the weak Euro. Many could also be impacted by economic uncertainty in China, creating supply chain risk.
“Yet recent CBI survey results also suggest that the sector continues to grow. A broader resurgence of the sector and demand patterns in the US, record British automotive production figures and the improving Eurozone manufacturing PMI, are all positive for UK manufacturers.
“The industry should remain optimistic about long term growth and productivity gains, through focusing on efficiency and scaling up production as global demand continues to rise.”
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. See more at: www.markiteconomics.com