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Manufacturing: Key Economic Indicators

Published Thursday, October 11, 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 up 0.8% in the 3 months to August 2018 compared with the 3 months to May 2018. This followed a rise of 0.2% in the 3 months to July 2018, following a fall of 0.7% in the 3 months to June and a fall of 1.1% in the 3 months to May (the largest fall since December 2012).

Output was up 0.2% in August 2018 compared with July 2018. This followed growth of 0.2% in June 2018.

 

 

Purchasing Managers’ Index (PMI)

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

In September 2018 the UK Manufacturing PMI was 53.8, up from 53.0 in August. The PMI has remained above the neutral 50.0 mark for 26 months.

(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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