United Kingdom

Details

  • Industry: Automotive
  • Type: Press release
  • Date: 04/09/2012

Upward movement in UK manufacturing output unlikely to continue, says KPMG 

 

John Leech, UK Head of Automotive at KPMG, comments on the latest Markit/CIPS manufacturing PMI which rose to a four-month high of 49.5 in August from a downwardly revised 45.2 in July - a 3½-year low:

 

"The latest Markit/CIPS manufacturing PMI figures show the downturn in UK manufacturing easing sharply in August. 

 

“This is better than anyone had expected but I fear that this upwards movement is unlikely to continue as UK manufacturers still face weak demand from our main export market – the Eurozone.   

 

“This combined with tight lending conditions and recent increases in commodities means that the UK manufacturing sector is likely to remain flat for the foreseeable future.”

 

Ends

 

For further information please contact:

 

Arti Mohan, Corporate Communications

Tel: 020 7694 8735

Mobile: 07768 858 085

Email: arti.mohan@kpmg.co.uk

 

KPMG Press Office: 020 7694 8773

 

About KPMG

 

KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 11,000 partners and staff.  The UK firm recorded a turnover of £1.7 billion in the year ended September 2011. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 152 countries and have 145,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  KPMG International provides no client services.

 

 

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