The UK manufacturing sector remained solid at the end of the first quarter of 2017, with the Markit/CIPS Purchasing Managers’ Index. recording 54.2 in March (54.5 in February) having remained above the neutral mark of 50.0 for the eighth successive month. The latest PMI reading compared favourably to its long-run trend (51.6) although sector data…
Prime Minister Theresa May is today launching proposals for a modern Industrial Strategy aimed at building on Britain’s strengths and securing a future as a competitive, global nation. At the heart of the Strategy green paper, published today, is an offer to businesses to strike new “Sector Deals” to address sector-specific challenges and opportunities –…
UK CEOs are lagging behind the rest of the world in addressing how artificial intelligence (AI) and automation will impact their business, according to PwC research. PwC’s 20th CEO Survey, published at the World Economic Forum in Davos, reveals that nearly half (47%) of UK CEOs say they are not currently addressing the impact of…
UK manufacturers expect 2017 to be another year of risks but at the same time are gearing up for the challenges ahead. According to the annual Executive Survey from EEF, the manufacturers’ organisation, almost half of companies surveyed see more risks than opportunities in the year ahead. However, in 2017 56% of firms expect to…
The UK manufacturing sector ended 2016 on a positive note with rates of growth for production and new orders in December among the best seen over the past two-and-a-half years. The Markit/CIPS Purchasing Managers’ Index (PMI) rose to a 30-month high of 56.1, up from 53.6 in November and well above its long-run average (51.5). …
Private sector growth picked up pace in the three months to December, according to the CBI’s latest Growth Indicator, the final one of 2016. The survey of 788 respondents across the manufacturing, distribution and service sectors showed that growth climbed to a balance of +17%, its highest in a year. Most sectors reported an uptick…
Businesses across England and Wales reported another month of solid growth in November, with output levels and employment both rising at faster rates, according to the latest Lloyds Bank Regional Purchasing Managers’ Index (PMI) survey. The PMI for England rose to a ten-month high of 55.8 up from 54.9 in October. A reading greater than…
Sentiment in the financial services sector deteriorated in the three months to September, as firms assimilated the challenges of lower interest rates and the uncertainty caused by the vote to leave the European Union, according to the latest CBI/PwC Financial Services Survey. The quarterly survey of 115 firms – the first since the Brexit vote…
In its first economic forecast since the EU referendum, the British Chambers of Commerce (BCC) has downgraded its UK GDP growth forecast from 2.2% to 1.8% in 2016; from 2.3% to 1.0% in 2017 and from 2.4% to 1.8% in 2018. Weaker consumer spending and a large fall in investment were the main reasons for…
The UK service sector returned to growth in August, according the Markit/CIPS UK Services Business Activity Index. Following abrupt contractions in output and new business in July, linked to the EU referendum, the latest data signalled a return to growth as companies reported that uncertainty had abated somewhat. The business activity index rebounded to 52.9…
Output growth remained subdued across England and Wales in May, according to the latest Lloyds Bank Regional Purchasing Managers’ Index. The weakness reflected a deteriorating trend in the flow of incoming new work, with job creation slowing as a result. The business activity index for England – which tracks changes in the combined output of…
April saw business activity growth slow across England and Wales, according to the latest Lloyds Bank Regional Purchasing Managers’ Index (PMI). Employment rose only slightly, signalling caution among businesses, while cost pressures picked up amid the introduction of the National Living Wage and higher fuel prices. The index measuring business activity across England’s private sector…
April saw the seasonally adjusted Markit/CIPS Purchasing Managers’ Index (PMI) fall below the critical no-change mark of 50.0 for the first time since March 2013. At 49.2, from a downwardly revised reading of 50.7 in March, Markit suggests that the headline index was dragged lower by lacklustre trends in production and new orders and declines…
Growth in output and employment was slightly higher in March compared to February, but the first quarter of 2016 as a whole was the worst in almost three years, according to the latest Lloyds Bank Regional Purchasing Managers’ Index. The business activity index for England – which tracks changes in the combined output of manufacturing…
UK construction companies indicated a sustained upturn in overall business activity during March but the pace of expansion remained relatively subdued in comparison to the trends seen for much of the past three years. At 54.2 in March, the Markit/CIPS UK Construction Purchasing Managers’ Index posted above the neutral 50.0 value for the thirty-fifth month…