Stephen Cooper, head of industrial manufacturing at KPMG UK, comments on the IHS Markit/CIPS UK Manufacturing PMI released today.
Stephen Cooper, head of industrial manufacturing at KPMG UK, comments on the IHS Markit/CIPS UK Manufacturing PMI released today. He said:
“The UK manufacturing sector saw a mild improvement in performance in May, which on the face of it is great news. However, a slowdown in new orders, creeping inflation and supply chain constraints means that business need to be constantly alert to the changing conditions; the steepest build-up of finished goods inventories in the 26-years and the European PMI suggesting weakening confidence in manufacturing (albeit in positive territory) provide a further caution.
“KPMG‘s Global CEO Outlook, published this week, points to the geopolitical situation as a key concern regarding growth - the uncertainty it brings in the form of trade wars and sanctions and the continued lack of clarity for trading arrangements under Brexit, all have a direct impact on manufacturing meaning that businesses cannot be complacent.”
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