Confidence in manufacturing growth rises May 2015

The monthly PMI (UK Purchasing Managers Index) saw a growth from 51.8 to 52.0 during May. Any recording above 50.0 indicates expansion.

 

Whilst manufacturing still only represents 10% of the UK economy, it is a sector that has remained a concern for many months, so this increase in confidence is a welcome sign.

 

Although the key to achieving sustained growth remains to increase export sales and the continuing concerns in the Eurozone and also the issues in the Chinese market will continue to constrain this.

 

Further support from the government to promote UK manufactures enter the export market is being called for by the SME sector who find it difficult to gain a first foothold overseas.