UK manufacturing activity at sixteen year high
By: Sarah Howard
05 January 2011
Manufacturing activity for December 2010 was at its highest since 1994, according to recently published figures.
A monthly report from Markit/CIPS (Chartered Institute of Purchasing and Supply) reported that the manufacturing index in December increased to 58.3, far surpassing economists' predictions of 57 and eclipsing November figures which stood at 57.5.
The positive figures for the manufacturing sector are attributed to high export growth, with demand overseas for Britain's goods expected to continue into 2011.
Chief economist of the EEF manufacturers' organisation Lee Hopley, believes that the sector will help to lead the economic recovery, saying to The Guardian: ''[The] PMI signal(s) a happy new year for UK manufacturing with activity surging ahead through to the end of 2010. Ongoing demand in both home and export markets, along with the continued strength of eurozone PMIs, should put the UK recovery on solid ground as we enter 2011.''
As well as boosting the economy, strong manufacturing growth is set to boost job creation, with David Noble, chief executive officer at the CIPS, saying to Logistics Manager, ''The accelerated growth of new orders in export markets and recent survey record rates of increase in manufacturing jobs are a positive end to the year.''
Not only are the rising fortunes of one of the UK's largest industry sectors good for those in manufacturing roles, it is also positive news for those working for a logistics consultancy who will surely benefit from the increased transport of goods across the UK and beyond.
Top of page