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Manufacturing output increases
The rate of growth in the UK's manufacturing sector increase in October for the first time since March, according data released by the Chartered Institute of Purchasing and Supply (CIPS).
The CIPS said its Purchasing Managers' Index rose to 54.9 from September's 10-month low of 53.5. With a figure of 50 or above indicating growth, it is a sign of renewed strength in the manufacturing sector. However, the data revealed that firms are concerned about future inflation.
A separate manufacturing study has also said the sector is in good health. The Confederation of British Industry (CBI) said a growing number of small manufacturers were now expecting to increase production to meet rising demand.
Its latest SME Trends Survey found that 31% of such firms expect to boost output in November-January, while only 12% are predicting a fall. This gives a balance of +19%, better that the +9% figure recorded for the past three months.
"Smaller manufacturers saw the pace of output growth slow slightly in the last three months after the fillip from stock rebuilding dwindled," said Russel Griggs, chairman of the CBI's SME council.
Post Date: November 1st, 2010
The CIPS said its Purchasing Managers' Index rose to 54.9 from September's 10-month low of 53.5. With a figure of 50 or above indicating growth, it is a sign of renewed strength in the manufacturing sector. However, the data revealed that firms are concerned about future inflation.
A separate manufacturing study has also said the sector is in good health. The Confederation of British Industry (CBI) said a growing number of small manufacturers were now expecting to increase production to meet rising demand.
Its latest SME Trends Survey found that 31% of such firms expect to boost output in November-January, while only 12% are predicting a fall. This gives a balance of +19%, better that the +9% figure recorded for the past three months.
"Smaller manufacturers saw the pace of output growth slow slightly in the last three months after the fillip from stock rebuilding dwindled," said Russel Griggs, chairman of the CBI's SME council.
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Post Date: November 1st, 2010
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