Manufacturing PMI: greater certainty brings small steps of recovery

Following the release of the UK manufacturing PMI yesterday, Atul Kariya, head of manufacturing and engineering at MHA MacIntyre Hudson, says the end of political uncertainty after the general election result and Friday’s Brexit deadline should mean a steady, but cautious recovery for manufacturing in the year ahead. The index score has risen to 50.0 in January from 47.5 in December.
“Businesses like stability and, regardless of people’s own views on recent political developments, we are now in a more stable period after a year of uncertainty in 2019. What this means for the manufacturing sector should be a small but steady recovery in the coming months for production, new orders and investment decisions that were perhaps previously delayed – and that is evident by the first rise to a neutral score of 50.0 since April 2019.
“While it is still too early to say that all of these concerns are now over, there are of course still global economic factors that continue to impact the sector. That said, the movement of the PMI index score symbolises a more positive outlook for manufacturers at present.”
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