Make UK comment on PMI data

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

“Manufacturers have responded with strength following a challenging period of slowing demand, rising cost pressures and difficulties across supply-chains. The latest data is the strongest indication yet that the most recent UK recession is already a distant memory for many businesses.

“The sector’s rise was unexpectedly influenced by a boost in domestic trade despite improving economic conditions in the EU and US which has yet to translate into stronger exports for UK manufacturers. This is a good sign for the industry, though companies will act cautiously going forward and avoid over-analysing the situation given current political uncertainty which will certainly leave caution for investment in the coming weeks.”

Make UK will be publishing its Q2 survey and economic forecasts on 17 June