The headline PMI has now remained above the 50.0 no-change mark for 17 consecutive months. The average reading over the final quarter of 2017 (57.0) was the best since the second quarter of 2014. Manufacturing output and new orders have both expanded throughout the past 17 months. Companies reported that production was scaled up in response to solid inflows of new work and the launch of new product lines.
UK manufacturing sector growth remains solid at end of 2017
The UK manufacturing sector ended 2017 on a positive note. Although December saw rates of expansion in output, new orders and employment slow from November’s highs, growth in all three remained solid and well above long-run trends. The seasonally adjusted IHS Markit/CIPS Purchasing Managers’ Index® (PMI®) posted 56.3 in December, down from November’s 51-month high of 58.2.
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