UK manufacturing sees further decline, posing challenges for manufacturers
3 September 2018
Commenting on the IHS Markit/CIPS UK Manufacturing PMI, which went from 54.0 in July to 52.8 in August, Duncan Johnston, UK manufacturing industry leader at Deloitte, said:
“August PMI data represents the lowest figures for more than two years as foreign orders fell for the first time since April 2016. Prospects for the future growth in UK manufacturing depend on the sector remaining competitive and continuing to focus on innovation and investment to attract future foreign orders. Manufacturers are focussing on the challenges and opportunities presented by Industry 4.0 and the Internet of things, which change what customers want from industrial products and how they use them. UK companies that incorporate this innovation and invest in it, can prosper.”
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