Ending the year strongly
The latest facts and figures show that the manufacturing industry in the UK is ending 2016 on a high.
The latest Markit/CIPS Purchasing Managers’ Index (PMI) has shown that there have been upturns in output, new orders and employment, thus showing signs that the industry is finishing the year strongly despite economic uncertainty throughout 2016.
In October, the industry scored 54.3 – slightly down on September’s 55.5, although well above the long-term average of 51.5. The Markit/CIPS PMI shows that new order volumes remained strong for the third consecutive month, with healthy demand coming from both domestic and export clients.
Lee Hopley, chief economist at EEF, commented: “Manufacturing indicators have stabilised following the sharp movements seen in the weeks after the referendum, while production levels and new order intake across the sector continue to expand at a reasonably healthy clip.”
The positives are also seen in the latest Office for National Statistics (ONS) figures. According to the ONS, output from manufacturers rose by 0.6 per cent last month, up from 0.2 per cent in August and a 0.9 per cent fall in July.
It is hoped that 2017 will bring the opportunity for the industry to show its ability to grow rather than show its resilience against external factors.
F1 Manufacturing is a sheet metal specialist based in Leicester. We have been producing and manufacturing high-quality metal components in the Midlands, for clients in a number of different sectors, for over 25 years. Our services include metal folding, welding, laser cutting and finishing.
To find out more about the financial and logistical advantages of working with a British manufacturing company, contact us on 0116 268 8484.