Cara Haffey, PwC’s Head of Manufacturing and Automotive Sectors, reflects on the impact of cost inflation, highlighted in the May PMI Manufacturing Index, released today:
“The slowdown in May’s PMI Manufacturing results are not surprising given the wide range of challenges currently being faced by manufacturers, including cost pressures and continued market volatility. Clients are reporting that as a result of cost inflation across all aspects of their business - from input costs to wages, energy to logistics - combined with continued uncertainty in the end market demand, they are adopting an increasingly conservative view of the future.”
“Given this difficult time, we hope firms can remain focused on the energy transition and digitalisation, as we believe that setting the course long term is both beneficial for the cost headwinds now as well as supporting their long term ambitions.”
“The businesses who do well in difficult times, act boldly, take calculated risks and gain market share".
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Manager, media relations, PwC United Kingdom
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