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Manufacturing: Key Economic Indicators

Published Friday, November 10, 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

Preliminary estimates show that in Q3 2017 manufacturing output was up by 1.0% in real terms compared with Q2.

Total manufacturing output was up 1.1% in the 3 months to September 2017 compared with the 3 months to June 2017. The largest contribution to the rise in manufacturing output came from transport equipment, which rose by 3.0%.

 

Purchasing Managers’ Index (PMI)

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

In October 2017 the UK Manufacturing PMI was 56.3, an increase from 56.0 in September, and above its long-run average of 51.7.

(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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