UK manufacturing upsurge continuesUncategorized
May saw the UK manufacturing sector maintain one of its brightest spells of output and new order growth in the 22-year survey history. As manufacturers ramped up production to meet strong inflows of new work from both domestic and export markets, the benefits were also shared with the wider economy through solid job creation and rising levels of input purchasing.
At 57.0 in May, the headline seasonally adjusted Markit/CIPS Purchasing Managers Index® (PMI®) posted close to Aprils five-month high of 57.3 and again registered one of its highest readings in the survey history. The PMI has now signalled an improvement in overall operating conditions in each month since March last year.
Made in the Midlands Director Charles Addison said: "There has been some derision about George Osborne's 'march of the makers' but these figures categorically show that manufacturing is making great strides. I'm especially delighted as much of the national growth is being driven and created right here in the Midlands and that was reflected in our Futures Report at the end of last year."
Read the full press release from Markit and CIPS here: