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Manufacturing: Key Economic Indicators

Published Wednesday, October 11, 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 up 0.7% in the 3 months to August 2017 compared with the 3 months to May 2017. The largest contribution to the rise in manufacturing output came from other manufacturing and repair, which rose by 3.8%; this sub-sector inclues a wide range of high-value milestone-based contracts for repair and maintenance, such as for aircraft, ships and boats.

 

Purchasing Managers’ Index (PMI)

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

In September 2017 the UK Manufacturing PMI was 55.9, a decrease from 56.9 in August.

(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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