Manufacturing sector sees solid growth
(2 minutes to read)
Umbrella company contractors working in the manufacturing sector will be interested to hear that the industry has seen solid growth over the last few months.
The recent Markit/CIPS UK Manufacturing Purchasing Managers' Index (PMI) revealed the start of the second quarter saw a significant improvement in the performance of the UK manufacturing sector.
Rates of expansion in output, total new orders and new export work all gathered pace, underpinned by robust business confidence and driving further job creation.
Rob Dobson, Senior Economist at IHS Markit, which compiles the survey, commented, “The UK manufacturing sector made a solid start to the second quarter. Growth of output, new orders and employment all gathered pace, driven higher by the continued strength of the domestic market.
“Although only accounting for 10% of the economy, the upturn in the manufacturing sector represents some welcome good news after the sharp slowing in GDP seen in the first quarter.”
Duncan Brock, Director of Customer Relationships at the Chartered Institute of Procurement & Supply added, “The UK manufacturing PMI sprung back to a three year high in April after a brief blip in March. Spring has ushered in green shoots of growth with April marking the ninth consecutive increase in manufacturing employment.
“The British manufacturing industry is moving at such a pace that suppliers are struggling to keep up with demand.”