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Manufacturing: Key Economic Indicators

Published Tuesday, July 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 down 1.2% in the 3 months to May 2018 compared with the 3 months to February 2018, the largest fall since December 2012.  This reflects widespread weakness across the sector.

 

 

Purchasing Managers’ Index (PMI)

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

In June 2018 the UK Manufacturing PMI was 54.4, up slightly from 54.3 in May and from April's 17-month low of 53.9. The average reading over Q2 2018 was the lowest since Q4 2016.

(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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