Make UK comment on PMI data

Commenting on today’s PMI data, James Brougham, Senior Economist at Make UK, said:

“We’ve known for a while that this year was going to be tough with weak demand in major markets and continued supply chain disruptions. Supplier lead times are now are now lengthening at their fastest rate in just over a year as a result of shipping frictions in the Red Sea, inevitably leading to delays in stock and limiting the sector’s ability to deliver on its already declining orders.

“While these frictions will hopefully be short-lived, they only serve to kick the sector while it’s already unsteady on its feet. With only a pedestrian year of performance expected ahead, the confidence that the sector does still hold looks increasingly fragile with the sector longing for a couple of quarters without geo-political turmoil to grow in earnest.”