UK manufacturing accelerates: Order books to boost sector output
1 September 2017
Commenting on the Markit/CIPS Manufacturing Purchasing Managers’ Index (PMI) for September released today, Duncan Johnston, UK manufacturing industry leader at Deloitte, said:
“Today’s PMI figures signal continued strength in the UK manufacturing sector. The Index increased to 56.9 in August, from 55.1 in the previous month. It has remained comfortably above the 50 mark, which indicates growth, for 13 consecutive months.
“The data echoes the positive sentiment of other industry surveys. The CBI’s latest monthly Industrial Trends Survey points to the increasing health of the sector with stronger total order books and export orders. However, the upbeat survey results contrast with the latest ONS data for Q2, which showed a decline in manufacturing output.
“Domestic demand was the prime source of new contracts, adding to the ongoing strength of export orders which has been helped by the depreciation of the pound. Looking forward, robust order books should support sector growth in Q3 – and businesses remain optimistic with over half expecting output to increase over the coming year.”
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