Rise in UK Manufacturing
Published / Last Updated on 03/03/2014
Rise in UK Manufacturing.
Employment in the UK manufacturing sector rose by the fastest pace in almost 3 years, leading to the manufacturing sector growing faster than predicted.
Economists predicted that the Purchasing Managers’ Index (PMI) would drop to 56.5, but this was not the case as the sector rose to 56.9 from 56.6. Anything above 50 is considered growth.
Jobs growth in the sector continue to grow and at the fastest pace since May 2011. This is the 11th month in a row that manufacturing has risen.
Manufacturing accounts for around a tenth of the UK’s economy which is still improving, but despite an improving economy exports slowed and are said to be linked to the rise of sterling.