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Manufacturing: Key Economic Indicators

Published Wednesday, April 10, 2019

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

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

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

Manufacturing Output

Total manufacturing output rose by 0.4% in the 3 months to February 2019 compared with the previous 3 months. Manufacturing output fell by 0.6% in the 3 months to February 2019 compared with the 3 months to February 2018.

Particularly strong growth (of 2.3%) occurred in output from the pharmaceuticals sub-sector in the three months to February 2019.

 manufacturing output

Purchasing Managers’ Index (PMI)

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

In March 2019 the UK Manufacturing PMI was 55.1, up from 52.1 in February. The March figure was the highest since January 2018.

In March, the trend in output, employment and new orders all increased, from both domestic and export markets. Brexit preparations continued the rise in purchasing activity and stockpiling by clients, while Brexit concerns continued to subdue business optimism.

(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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