Stephen Cooper, KPMG’s Head of UK Industrial Manufacturing comments on the Markit/CIPS UK Manufacturing PMI for January 2014 which showed the PMI at 56.7. He said:
“The UK manufacturing sector made a positive start to 2014 with the PMI at 56.7. Increases in both domestic and export demand have fed through to improvements in employment across the sector.
“In January, the UK manufacturing sector showed the highest growth figures compared to the other sectors. The results also support the UK GDP figures for the sector which saw an above expectations increase for 2013 of 1.9% - the highest since 2007.
“On the global front, while the USA has shown solid underlying growth over the past year, the past month there saw a slowdown in output which has been linked in some part to the weather which had a negative impact on supplier deliveries. China is showing deteriorating manufacturing conditions which has been linked to their fragile economic conditions. Things are looking bright here at home however; the UK seems to be ahead of the rest of the world trend and we predict this will continue.”
Nahidur Rahman, KPMG Press Office
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KPMG Press Office: 020 7694 8773
KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with approximately 11,500 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2013. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 155,000 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. Each KPMG firm is a legally distinct and separate entity and describes itself as such.