British manufacturing continues to grow

According to recent figures on the Purchasing Manager’s Index (PMI), which indicates manufacturing performance, UK industry has seen month-on-month growth for the past two years.

PMI surveys are carried out by Markit Economics, based on feedback from selected companies, with the latest results beating expectations in the month of March.

Senior Economist at Markit, Rob Dobson, said: ‘The sector is on course for output growth ranging around 0.6% over the opening quarter as a whole, a positive contribution to broader economic expansion and its best performance since the first half of last year.’

Recent figures from the Office for National Statistics also confirm recovery of the UK economy, growing at its fastest pace in the nine years to 2014 – at an overall rate of 2.8%.

Chancellor George Osborne said the ONS figures were a ‘hat-trick of good news’, adding: ‘With 37 days to go to the election it’s another sign that changing course would put recovery at risk.’

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s