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New jobs created as optimism remains high in UK manufacturing sector

Tuesday 4th July, 2017
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Limited Company
New contractor opportunities continued to be created in the UK's manufacturing industry during June, with this trend expected to continue over the coming months as optimism in the sector remains high.
 
This is according to the latest monthly edition of the manufacturing Purchasing Managers' Index (PMI) compiled by Markit and the Chartered Institute of Purchasing and Supply (CIPS), which awarded the sector an index rating of 54.3 for June.
 
Although this was down slightly from May's score of 56.3, any PMI rating above 50.0 indicates growth during a four-week period, demonstrating that the manufacturing industry was in a healthy place last month.
 
Indeed, new opportunities for limited company contractors continued to be created at small and medium-sized enterprises, as well as at larger firms.
 
What's more, almost half (48 per cent) of manufacturing managers reported that they are optimistic their output will grow over the next 12 months, which suggests even more opportunities could be on the horizon for workers that can demonstrate a high skill level.
 
This optimism was primarily linked to upcoming product launches, the anticipation of new business orders and plans for investment spending that are already in the pipeline, setting manufacturers up for a good year.
 
Rob Dobson, Senior Economist at Markit, summarised: "The UK manufacturing sector largely weathered the uncertainty of a general election and start of formal Brexit negotiations to eke out further output growth at the end of the second quarter."
 
Duncan Brock, Director of Customer Relationships at CIPS, added: "For now, optimism remains relatively high, job creation solid across corporates and SMEs and additional efforts are being made to improve efficiencies across the sector."
 
The end of June also marked the end of the second quarter of 2017. Markit and CIPS awarded the manufacturing sector a PMI rating of 55.9 for the three-month period from April to June, which indicates steady and solid growth.


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