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Manufacturing: Key Economic Indicators

Published Tuesday, May 2, 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 in February 2017 compared to January 2017, by 0.1%, the second successive month output has fallen.

Manufacturing output was up by 3.3% over the whole year to February 2017.

 

Purchasing Managers’ Index (PMI)

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

In April 2017 it was 57.3, an increase of 3.1 on the March figure, and a three year high after March's four month low. The headline PMI has now remained above the neutral mark of 50.0 for nine months.

(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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