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News - 5 March 2014

Good news for manufacturing

The latest Markit/CIPS Manufacturing Purchasing Managers' Index (PMI) shows that UK manufacturing grew faster than expected in February, with employment in the sector expanding at its fastest pace in almost three years.

Tonmoy Kumar, Manager of the Accounts Department of ABDS comments:
“Manufacturing accounts for around a tenth of Britain's economy and this is the eleventh consecutive month that UK manufacturing has expanded. Jobs growth in the sector also rose at its fastest rate since May 2011. This is hopefully a broader indicator of market recovery.”

Rob Dobson, senior economist at Markit, said
"The survey suggests we should expect another quarter of robust economic growth in the opening quarter of the year.”

If you need any help and advice on Business Financial Planning and Development within the manufacturing and construction sectors, don’t hesitate, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar NOW to discuss how ABDS can help in all your Business planning.

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

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