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:

“A modest retreat from last month’s near three-year high continues to signal that the UK manufacturing is in good shape. Output and orders expansion is being driven by resilient demand coming through UK supply chains and a better looking global economy than UK manufacturers have been used to for some time.

“The familiar story of cost pressures following commodity price rises and a weaker Sterling still coming through the pipeline will continue to play a role in dampening the spirits of UK consumers. The growing demand for employees in the manufacturing sector should however provide additional support for ongoing positive labour trends, though will do little to help with the growing productivity challenge.”

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