UK manufacturing misfires in October - KPMG United Kingdom
close
Share with your friends

UK manufacturing misfires in October

UK manufacturing misfires in October

Justin Benson, Head of Automotive at KPMG UK, comments on the IHS Markit/CIPS Manufacturing PMI results for October, released today.

1000

Also on home.kpmg

He said: “With the UK manufacturing PMI for October dropping by 2.5 points, it suggests that business confidence is on a downward trend. Combine that with Brexit, trade negotiations between the US and China, German elections and Italian debt, the picture it paints is one of increased geopolitical uncertainty.

 

“With this PMI downturn and the last two quarters of negative investment growth, the industry needs to get investing again. The UK is still a great place to make high quality products cost effectively, but in order to remain competitive, UK businesses must look to extend exports in new markets, or start exporting, if they aren’t already.”


-Ends-

 

For media enquiries only, please contact:


Jo Chileshe, KPMG Corporate Communications
T: +44 (0)121 232 3343
M: +44 (0)7919 211 803
E: jo.chileshe@kpmg.co.uk

Follow us on twitter: @kpmguk

KPMG Press Office: +44 (0)207 694 8773

About KPMG

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 14,500 partners and staff.  The UK firm recorded a revenue of £2.2 billion in the year ended 30 September 2017. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 154 countries and territories and has 200,000 people working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  Each KPMG firm is a legally distinct and separate entity and describes itself as such.

Connect with us

 

Request for proposal

 

Submit