The UK purchasing managers’ index, based on a survey of manufacturing companies, has risen from 55.4 in October to reach a 16-year high of 58, the highest it has been since September 1994. Robin Johnson, partner and head of the Industrial Engineering sector group at international law firm Eversheds, comments:
"This news reflects the mood of quiet confidence we have been seeing from our clients. Manufacturing has adapted to the new times and companies have spent the last two years streamlining, so it seems that the benefits are now starting to show. Momentum will inevitably slow as the benefits even out, but with a strong business and manufacturing focus from the government, the immediate future looks positive for the industry.
"All eyes will now be on next week’s announcement by the Government of its new manufacturing blueprint. Key components of this include R and D credits, support for research, cooperation with universities and focus on promoting an export driven economy."