5th December 2017.
Factory Activity Accelerated
UK manufacturing activity grew at its fastest pace in more than four years last month, according to a new survey.
The Purchasing Managers’ Index compiled by IHS/Markit hit 58.2 in November, the best level in 51 months.
According to the report, exports played a “big part” in the increased growth.
Duncan Brock, who contributed to the report, claimed that while the domestic market is undeniably strong, it is the export orders from the US and Europe that has led to this “picture of success”.
Regardless of how this growth came about, some economists question whether UK factories can maintain this current pace.
“The outlook for manufacturing appears mixed. Domestic conditions look challenging despite November’s healthy orders,” said Howard Archer, chief economic advisor to the EY Item Club.
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