New orders elevate UK manufacturing to five month high - CILT(UK)
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New orders elevate UK manufacturing to five month high

11 July 2016/Categories: Industry News, Operations Management


Britain’s manufacturing sector was in great shape in the first half of 2016, according to a monthly industry report.

A flow of fresh business and new orders from overseas helped the Markit/CPS Purchasing Managers’ Index, which indicates the manufacturing sector’s economic health, reach 52.1, up from May’s 50.4, the highest level since January.

June’s reading was taken late on June 23rd, hours ahead of the EU Referendum results being announced, so exactly how the Brexit has affected UK manufacturing won’t be clear for another few weeks.

Rob Dobson, senior economist at survey compilers Markit, said that Britain’s ability to sustain its recent growth recovery would depend on whether the disruption in financial and political arenas is felt in the real economy.

He commented: “There’s a clear risk that ongoing uncertainty will have at least some short term impact on manufacturing during the coming quarters.

“The big question is whether any negative impact from uncertainty can be partly offset by a boost to exports resulting from the fall in the pound.”

Administrators KPMG said that the devaluation of the sterling following the referendum would benefit UK manufacturing exports.

Justin Benson, director in KPMG's manufacturing team, explained: “In the short term, the UK’s exports will be more competitively priced and the PMI could continue to offer strong results in the coming three to six months.”
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