Manufacturing pace loses momentum

Production in the UK manufacturing sector for November was 52.7, which sits above the neutral PMI mark of 50.0, though falls below October’s adjusted Index figures of 55.2.

Markit senior economist Rob Dodson said: “UK manufacturing is moving back into expansion mode during quarter four, as it starts to reverse the losses sustained in the prior quarter.

Staffing levelled off to near-stagnation territory providing little to celebrate and cause for concern

CIPS CEO David Noble

“Although the pace of growth so far is only very modest, it positions manufacturing as less of a drag on the broader economy.”

Manufacturing output in the UK has continuously grown every month since March 2013, the Index suggests.

Meanwhile, export business grew for manufacturers last month, with the Index revealing an inflow of new orders from clients based in the US, Europe and the Middle East, as well as business from Asia.

Much of November’s manufacturing expansion, however, was “firmly centred” on large companies, with the Index showing small and medium enterprises (SMEs) as “lacklustre” in comparison.

Elsewhere, the Index also reveals poor growth in terms of employment, following stronger figures recorded in October.

David Noble, group chief executive officer at the Chartered Institute of Procurement & Supply, said: “Staffing…levelled off to near-stagnation territory providing little to celebrate and cause for concern around the sustainability of growth.”