UK manufacturing is growing at its fastest rate for almost 30 years as the easing of lockdown unleashes pent-up demand, according to a survey.
The IHS Markit/CIPS Manufacturing Purchasing Managers’ Index (PMI) reached a high last month of 65.6, up from 60.9 in April. Any reading above 50 indicates growth, and April’s figure was the highest since the survey began in 1992.
But there are also signs that suppliers are struggling to keep up with demand.
https://www.bbc.co.uk/news/business-57314678
The National Manufacturing Institute Scotland (NMIS) has announced the formation of a network that brings together leading Scottish research and innovation, education, and training providers to help unlock manufacturing innovation and drive growth in the sector across the country.
Spanning the length and breadth of Scotland, the network is led by NMIS and includes capability partners such as Borders-based Mountain Bike Centre of Scotland, Tay Cities Engineering Partnership (TCEP) and SeedPod, a £21 million investment in the food and drink industry to create a centre of excellence for manufacturing in north-east Scotland.
Confidence amongst SME manufacturers in the West Midlands is at its highest level for two years according to the latest Manufacturing Barometer, carried out by the Manufacturing Growth Programme (MGP) and SWMAS (the South West Manufacturing Advisory Service).
Some 62% of firms are expecting to increase sales between now and October, with 54% indicating that they are planning to boost investment over the next six months as they look to the future. Out of 61 firms questioned, nearly half highlighted an increased need to recruit staff over the coming months.
This quarter’s Barometer took an in-depth look at how manufacturing SMEs are recovering from the pandemic and, encouragingly, 44% of respondents now expect to return to, or exceed, their pre-COVID-19 position within three months.
Confidence amongst SME manufacturers in the East Midlands is at its highest level for two years according to the latest Manufacturing Barometer, carried out by the Manufacturing Growth Programme (MGP) and SWMAS (the South West Manufacturing Advisory Service).
Two-thirds of firms are expecting to increase sales between now and October, with 53% indicating that they are planning to boost investment over the next six months as they look to the future. Out of 38 firms questioned, 53% highlighted an increased need to recruit staff over the coming months.
The region’s manufacturers are making “great strides” since the start of the year to recover from the “brutal impact” of the pandemic, with growth prospects becoming significantly more positive for the rest of the year.
According to a survey published today by Make UK and business advisory firm BDO, after a 10% decline in output in 2020, the sector in the UK overall is now set to recover a significant amount of that loss in 2021 and outpace the growth of the economy overall.
In particular, both UK orders and total orders were very strong for West Midlands companies in the last quarter while output levels were the highest of any UK region.