Rising demand for UK manufacturing sees increased hiring
(2 minutes to read)
Umbrella company contractors working within the manufacturing industry will be pleased to learn that the sector climbed to a ten-month high during last month.
Findings from the recent Markit / CIPS UK Manufacturing Purchasing Managers’ Index revealed that companies within the sector reported solid inflows of new work from both domestic and export sources.
As a result of this, employment rose for the first time in the year-to-date.
Rob Dobson, Senior Economist at IHS Markit, which compiles the survey, commented on the findings, “The August PMI data indicate a solid rebound in the performance of the UK manufacturing sector from the steep downturn that followed the EU referendum.
“Companies reported that work that had been postponed during July had now been restarted, as manufacturers and their clients started to regain a sense of returning to business as usual. The domestic market showed a marked recovery, especially for consumer products, while the recent depreciation of sterling drove higher inflows of new business from the USA, Europe, Scandinavia, Middle East and Asia.”
David Noble, Group Chief Executive Officer at the Chartered Institute of Procurement & Supply, added, “The Brexit brakes are off, as the sector surged ahead with the PMI hitting a 10-month high reflecting rapid expansions in both activity and new orders.
“Fuelled by a combination of export and domestic orders, the increase in the level of the headline PMI equalled its best during the survey’s quarter of a century history.”