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Manufacturing: Key Economic Indicators

Published Friday, April 7, 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 2015, the manufacturing sector accounted for 10% of total UK economic output (Gross Value Added).  In September 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.

This is the largest year on year increase since November 2014.

Purchasing Managers’ Index (PMI)

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

In March 2017 it was 54.2, a decrease of 1.5% on the January figure, and a four month low after December's two and a half year high. The headline PMI has now remained above the neutral mark of 50.0 for eight 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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