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The flash manufacturing PMI for August 2020 was 55.2, a rise of 1.9% on the July level and above the neutral 50.0 value for the third month running.

The recovery from the low point in Q2 2020 continued with manufacturing output in August increasing at the steepest pace since April 2014. This was driven by strong expansions of production volumes and incoming new work. However, the latest data indicated a steep and accelerated fall in employment.

Manufacturing is one of the production industries, which also include mining, electricity, water & waste management and oil & gas extraction.

In 2018, the manufacturing sector accounted for 10% of total UK economic output (Gross Value Added). In September 2019, it accounted for 8% of jobs.

Manufacturing Output

Total manufacturing output for the three months to July 2020 fell by 4.4%, compared with the three months to April 2020.

For the three months to July 2020, manufacturing output decreased by 15.7%, compared with the three months to July 2019. Monthly manufacturing output in July rose by 6.3% compared to June. All of the 13 subsectors displayed upward contributions.

 

Purchasing Managers’ Index (PMI)

In the Markit/CIPS PMI, a value of 50 means that there is no change compared to the previous month. Values above 50 indicate an expansion, and values below 50 a contraction.

The flash manufacturing PMI for August 2020 was 55.2, a rise of 1.9% on the July level and above the neutral 50.0 value for the third month running.

The recovery from the low point in Q2 2020 continued with manufacturing output in August increasing at the steepest pace since April 2014. This was driven by strong expansions of production volumes and incoming new work. However, the latest data indicated a steep and accelerated fall in employment.

UK manufacturing PMI


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