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Manufacturing: Key Economic Indicators

Published Friday, August 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 0.9% in the 3 months to June 2018 (Q2 2018) compared with the 3 months to March 2018. This reflects widespread weakness across the sector. This followed a fall of 1.1% in the 3 months to May 2018, the largest fall since December 2012.

Output was up 0.4% in June 2018 compared with May 2018. This compared to growth of 0.6% in May 2018, but a fall of 1.2% in April.

 

 

Purchasing Managers’ Index (PMI)

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

In July 2018 the UK Manufacturing PMI was 54.0, down from 54.3 in June and close to April's 17-month low of 53.9.

(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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