EEF comment on PMI data

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Commenting on the PMI data released today Ms Lee Hopley, Chief Economist at EEF, the manufacturers’ organisation, said:

“Recent data points to a marked loss of momentum in manufacturing activity since the start of the year. While consumer facing sectors are still forging ahead thanks to low inflation and a pick-up in wage growth, any sign that export growth was about to turn around at the end of last year now looks to have been a false dawn.

“Nevertheless, it would be premature to write off manufacturing’s contribution to growth in the future, not least because continued employment growth points to some confidence about longer term prospects. Still, this is another reminder that the next government must focus on delivering a competitive and predictable environment to keep business growth on track.”  


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