PMI manufacturing statistics – Barclays’ comment

01 November 2018

Helena Sans, Head of Manufacturing at Barclays, comments on today's PMI manufacturing figures.

“A concerning set of data from the manufacturing sector for October with not only a slowdown in output growth but also new order inflows and employment both down for the first time in over two years. Manufacturers are facing a double whammy of a fall in export orders and weak domestic demand, both conspiring to restrict performance.

"The only little ray of sunshine amidst the gloom is that UK manufacturers remain positive for now with almost half expecting output to be higher in a year’s time but for that confidence to translate into stronger performance, it’s crucial that the sector gets clarity now on a Brexit transition deal and so avoid the risk of prolonging a more cautious and tentative approach to investment.”

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