Manufacturing grows for 15th month
With the latest IHS Markit/CIPS UK Manufacturing PMI® statistics being released this week, feelings from the sector remain positive.
The figures for October show an increase on September’s 56.0, rising to 56.3, which also signals 15 consecutive months’ of growth.
Respondents relate positive signs from manufacturing, with output and orders growing, despite rising prices putting pressure on the sector.
Peter Vinden, Managing Director of the Vinden Partnership, said: “The figures show a solid footing for manufacturing and the continued growth in the sector is a positive sign for industry.
“With exports growing, despite price rises putting pressure on the sector, manufacturing should show a strong final quarter.
“As work flow increases with the growth of new orders, the sector will need to ramp up production once again, which is always positive for job creation.
“Over 50% of manufacturers have forecast that output will be higher in one year’s time, compared to only 8% who anticipate a decline, which shows a confidence in the sector despite economic and political uncertainty.”
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Contact UsThe Vinden Partnership
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Thank you to TVP for all your help on this incredibly successful project. We are very grateful for the leading role you have played as Quantity Surveyors and Employer’s Agent in making it come together without any major issues or disputes, which is quite a feat in the building industry.”
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