EEF comment on PMI data

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

“Expansion in output and orders across all firm sizes and sectors has aligned to produce a remarkable bounce in the manufacturing PMI, a significant departure from the decline in production reported in official data over the past three quarters.

“Decent domestic demand continues to provide a strong spur for this month’s positive reading, but a pick-up in export demand from the Middle East and the US also provides some reasons for cautious optimism.  This is the first positive survey for manufacturing for some months and if this translates into an improvement in the official data, the sector could still post growth this year.”


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