34.47 F
New York
January 31, 2023
Image default
Finance

Uncertainty shrouds manufacturing sector outlook, says KPMG Magazine

Stephen Cooper, head of industrial manufacturing at KPMG UK, comments around the IHS Markit/CIPS UK Manufacturing PMI released today. He stated:

“The UK manufacturing sector saw a light improvement in performance in May, which on the face of computer is fantastic news. However, a slowdown in new orders, creeping inflation and supply chain constraints means that business really need to be constantly responsive to the changing conditions; the steepest build-up of finished goods inventories within the 26-years as well as the European PMI suggesting weakening confidence in manufacturing (albeit in positive territory) give a further caution.

“KPMG’s Global CEO Outlook, published today, points to the geopolitical situation like a key concern regarding growth – the uncertainty it gets the kind of trade wars and sanctions as well as continued loss of clarity for trading arrangements under Brexit, have the ability to a principal affect manufacturing which means that businesses can’t be complacent.”

Related posts

Leeds dangles 1m funding carrot to draw digital technology companies Magazine

admin

Leeds firm secures 40k loan in order to children's behaviour Magazine

admin

Barclays launch 500m Northern Powerhouse fund

admin

Leave a Comment