PMI manufacturing statistics – Barclays’ comment
Helena Sans, Head of Manufacturing at Barclays, comments on today's PMI manufacturing figures.
“Encouraging as today’s figures may appear, the true picture of UK manufacturing continues to be obscured by stockpiling, driven by the ongoing Brexit uncertainty, and this pattern looks unlikely to change until manufacturers see some whiff of white smoke above Westminster. New business may have improved from both domestic and export markets but for that to gather momentum and translate into stronger performance, clarity is needed now to avoid the risk of prolonging a more cautious and tentative approach to much-needed investment. Until then, manufacturers need to get on with influencing the factors within their control; retaining a focus on product innovation, controlling costs and remaining flexible in their planning.”
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