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.”
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