Menu
03/03/2014
UK Manufacturing Increased Last Month
The rate of manufacturing in the UK grew faster than expected in the month of February, new statistics have revealed.
According to the Markit/CIPS Manufacturing Purchasing Managers' Index (PMI), employment within the sector is now expanding at its fastest rate in almost three years.
Last month, the Index reached 56.9, up from 56.6 in January and was higher than the figure expected by economists (56.5).
A figure above 50 indicated expansion within the sector. Currently, manufacturing accounts for around a tenth of of Britain's economy.
Elsewhere, the pace of jobs growth reached a 33-month high in February, as the improved performance of the sector encouraged companies to take on more staff. Also underpinning the rise in employment were signs of strain on the capacity of some firms, as highlighted by a slight gain in backlogs of work during the month.
Commenting on the findings, Rob Dobson, Senior Economist at Markit, said: "The survey suggests we should expect another quarter of robust economic growth in the opening quarter of the year. The Manufacturing PMI ticked higher in February to provide welcome reassurance that the sector has weathered the storms and flooding in parts of the country during the month.
"Growth of production and new orders lost only a little momentum and are still rising at above trend rates. This mini-renaissance in manufacturing is also driving the sharpest job creation since the middle of 2011, which will support the broader economic recovery through improved consumer confidence and spending."
David Noble, Chief Executive Officer at the Chartered Institute of Purchasing & Supply added: "UK manufacturing remains remarkably resilient in February, with employment levels speeding ahead. Driving the trend of recovery this month was the rate of increase in staffing levels, which reached a 33-month high.
"Increasing levels of production, new orders amongst the steepest in the survey's history and positive expectations, helped sustain this solid growth and are encouraging signs for the next few months."
(JP)
According to the Markit/CIPS Manufacturing Purchasing Managers' Index (PMI), employment within the sector is now expanding at its fastest rate in almost three years.
Last month, the Index reached 56.9, up from 56.6 in January and was higher than the figure expected by economists (56.5).
A figure above 50 indicated expansion within the sector. Currently, manufacturing accounts for around a tenth of of Britain's economy.
Elsewhere, the pace of jobs growth reached a 33-month high in February, as the improved performance of the sector encouraged companies to take on more staff. Also underpinning the rise in employment were signs of strain on the capacity of some firms, as highlighted by a slight gain in backlogs of work during the month.
Commenting on the findings, Rob Dobson, Senior Economist at Markit, said: "The survey suggests we should expect another quarter of robust economic growth in the opening quarter of the year. The Manufacturing PMI ticked higher in February to provide welcome reassurance that the sector has weathered the storms and flooding in parts of the country during the month.
"Growth of production and new orders lost only a little momentum and are still rising at above trend rates. This mini-renaissance in manufacturing is also driving the sharpest job creation since the middle of 2011, which will support the broader economic recovery through improved consumer confidence and spending."
David Noble, Chief Executive Officer at the Chartered Institute of Purchasing & Supply added: "UK manufacturing remains remarkably resilient in February, with employment levels speeding ahead. Driving the trend of recovery this month was the rate of increase in staffing levels, which reached a 33-month high.
"Increasing levels of production, new orders amongst the steepest in the survey's history and positive expectations, helped sustain this solid growth and are encouraging signs for the next few months."
(JP)
Related UK National News Stories
Click here for the latest headlines.
03 June 2013
UK Manufacturing Continues To Grow
The UK's manufacturing sector continues to grow, with May's records indicating the fastest growth in over a year. The latest Markit/CIPS report shows growth of production and new orders both accelerating. At 51.3 in May, up from a revised 50.
UK Manufacturing Continues To Grow
The UK's manufacturing sector continues to grow, with May's records indicating the fastest growth in over a year. The latest Markit/CIPS report shows growth of production and new orders both accelerating. At 51.3 in May, up from a revised 50.
07 January 2011
Record Cold December
Provisional figures from the Met Office issued reveal that December 2010 has become the coldest December across the UK since the national series began in 1910. The mean temperature for the UK has been -1.0 °C, well below the long term average of 4.2 °C. The previous coldest December in the series was 0.1 °C, in 1981.
Record Cold December
Provisional figures from the Met Office issued reveal that December 2010 has become the coldest December across the UK since the national series began in 1910. The mean temperature for the UK has been -1.0 °C, well below the long term average of 4.2 °C. The previous coldest December in the series was 0.1 °C, in 1981.
22 January 2014
Man Dies In Accident At Toyota Factory
A 56-year-old man has died in an accident at Toyota's vehicle manufacturing plant in Derbyshire. Police were called to the factory at around 00:40 following a report that the man, understood to be a lorry driver, was trapped between to vehicles.
Man Dies In Accident At Toyota Factory
A 56-year-old man has died in an accident at Toyota's vehicle manufacturing plant in Derbyshire. Police were called to the factory at around 00:40 following a report that the man, understood to be a lorry driver, was trapped between to vehicles.
18 March 2011
Research Boost For UK Manufacturing Industries
A £51 million investment to ensure the UK stays at the leading edge of manufacturing research was unveiled today by Universities and Science Minister David Willetts.
Research Boost For UK Manufacturing Industries
A £51 million investment to ensure the UK stays at the leading edge of manufacturing research was unveiled today by Universities and Science Minister David Willetts.
25 August 2004
Oxford plant hits Mini milestone
The new-look Mini celebrated a milestone today as the half-millionth vehicle rolled off the production line in Oxford today. Since production began at the BMW plant in 2001 more than 375,000 of the 500,000 Minis have been exported, boosting the British manufacturing sector.
Oxford plant hits Mini milestone
The new-look Mini celebrated a milestone today as the half-millionth vehicle rolled off the production line in Oxford today. Since production began at the BMW plant in 2001 more than 375,000 of the 500,000 Minis have been exported, boosting the British manufacturing sector.
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
