Make UK comment on PMI data

Commenting on the latest PMI data, Fhaheen Khan, Senior Economist at Make UK, said:

“This figure points to a worsening of business conditions for manufacturers as firms experience declines output and orders. Whilst there is a slowdown earmarked for this year, the survey’s indications mainly reflect businesses running down pre-built safety stocks as expectations for easing supply-chain disruption finally start to take shape allowing manufacturers to produce more efficiently. However, there remains a material risk to global demand falling as manufacturing sectors in other countries, mainly Europe, continue to slow-down which make it difficult for manufacturers to forward plan.”

Make UK will be publishing a major report & survey on Industrial Strategy next Tuesday, ‘Industrial Strategy – A Manufacturing Ambition’. To coincide with the launch there will be a panel discussion on Industrial Strategy at Make UK Offices at 9.30 for 10, concluding at 1145. Panellists will include Make UK CEO, Stephen Phipson, Andy Haldane, Giles Wilkes, Greg Clark, Margot James and Bill Esterson. Embargoed copies will be sent later this week but if you would like to attend the panel event let me know.