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Manufacturing: Key Economic Indicators

Published Monday, December 10, 2018

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 2017, the manufacturing sector accounted for 10% of total UK economic output (Gross Value Added).  In March 2018 it accounted for 8% of jobs.

Manufacturing Output

Total manufacturing output was flat at 0.0% in the 3 months to October 2018 compared with the 3 months to July 2018. This followed a fall of 0.8% in Q2.

Output in October 2018 was down by 1.0% compared with October 2017.

Output was down by 1.0% in October 2018 compared with October 2018.

 

 

Purchasing Managers’ Index (PMI)

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

In November 2018 the UK Manufacturing PMI was 53.1, up from 51.1 in October. Despite this, the performance of the sector in November was among the weakest registered over the past two and a half years. The October PMI was a 27 month low.

(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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