Despite Ups and Downs, UK Manufacturing Has Grown for More Than a Year
By: Supply Management June 05, 2014
UK manufacturing expansion slowed in May, but the sector is still in "one of the brightest spells of output and new order growth" of the past 22 years, according to a survey of buyers.
The Markit/CIPS UK Manufacturing Purchasing Managers’ Index fell back to 57, down on April’s 57.3, but remaining above the 50 mark, indicating expansion and the sector is still experiencing “one of the brightest spells of output and new order growth in the 22-year survey history”.
There were marked increases of output and new orders across the consumer, intermediate and investment goods sectors, while new export orders rose for the 14th month in a row, with firms reporting improved demand from the US, Asia, Canada, Europe, the Middle East and New Zealand.
Manufacturing employment increased for the 13th month running, with growth spread across sectors and at both SMEs and large companies.