UK manufacturing ‘hits 29-month high’
Consumer spending and exports have been identified in two reports as key factors driving the current resurgence in UK manufacturing, reports The Engineer.
EEF and Markit have published reports indicating renewed confidence in the sector with EEF stating that manufacturers have upgraded their growth forecasts and Markit/CIPS’ Purchasing Managers Index (PMI) signifying five consecutive months of expansion.
Furthermore, figures released by the Office of National Statistics (ONS) say production output rose 0.6 per cent between the first and second quarter this year, with the largest contributor to this growth coming from manufacturing, up 0.7 per cent over the same period.
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