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Manufacturing: Key Economic Indicators

Published Friday, September 8, 2017

Manufacturing: Data on manufacturing jobs, output and producer confidence.

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Manufacturing is one of the production industries, which also include mining, electricity, water & waste management and oil & gas extraction.

In 2016, the manufacturing sector accounted for 10% of total UK economic output (Gross Value Added).  In December 2016 it accounted for 8% of jobs.

Manufacturing Output

Total manufacturing output was down 0.1% in the 3 months to July 2017 compared with the 3 months to April 2017. The largest contribution to the fall in manufacturing output came from transport equipment, which fell by 1.7%.

It was up by 0.9% in the 3 months to July 2017 compared with the same 3 months a year ago.

 

Purchasing Managers’ Index (PMI)

The Markit/CIPS UK Manufacturing PMI is an important indicator of confidence in the sector.

In August 2017 the UK Manufacturing PMI was 56.9, an increase from 55.3 in July. The index has only been at a higher level once in the last three years (57.3 in April 2017).

(A figure above 50 indicates that output is increasing).

 

 

Commons Briefing papers SN05206

Author: Gloria Tyler

Topics: Economic situation, Manufacturing industries

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