UK Manufacturing PMI – October – Media comment

01.11.2017

 

Shannon Murphy, manufacturing specialist and assistant head risk underwriter at Euler Hermes, said:

While UK exports have increased in recent months, levels have yet to reach the heights that the devalued Sterling and strengthening economic performance in the Eurozone and global markets promised. Clearly, British manufacturers are prioritising profit margins over exports.
The lack of visibility over the future direction of Brexit negotiations is holding back major investment initiatives in the sector that might have boosted productivity. Without a clearer picture to support those decisions, there are concerns that UK manufacturing will fall behind in the global technology race and struggle to compete.
Input costs continue to weigh down on margins and a possible uptick in the interest rate from the Bank of England will add further pressure. Businesses will need to be vigilant of a potential rise in financial risk.

 

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