Stephen Cooper commented on the Markit/CIPS Manufacturing PMI data released.
Stephen Cooper, Head of Industrial Manufacturing at KPMG in the UK comments on the Markit/CIPS Manufacturing PMI data released today.
“This week has brought a wave of snow and ice to the UK and the PMI results for January reflect that chilly blast.
“The underlying data does not paint a rosy picture, and when taken with poor results from Europe, macroeconomic issues and a downturn in activity in China, these factors suggest that a slip into recession for UK manufacturing is a distinct possibility. With this and the Brexit saga, we continue to encourage manufacturers to take positive steps to understand their supply chains, mitigate risks and ensure, to the best of their ability, that financing is available in case conditions deteriorate further.”
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