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Manufacturing: Key Economic Indicators

Published Friday, December 8, 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

Preliminary estimates show that in Q3 2017 manufacturing output was up by 1.0% in real terms compared with Q2.

Total manufacturing output was up 1.2% in the 3 months to October 2017 compared with the 3 months to July 2017. The largest contribution to the rise in manufacturing in the three months to October 2017 came from transport equipment (again), which rose by 2.5%.

Manufacturing output

 

Purchasing Managers’ Index (PMI)

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

In November 2017 the UK Manufacturing PMI was 58.2, up from 56.6 in October. This was its highest level in over four years, and the tenth-best registered during the near 26-year series history.

(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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