Cara Haffey, Leader of Industry for Industrials and Services at PwC UK said:
“The latest PMI data indicates encouraging signs for the UK's manufacturing sector as it edges above the neutral mark (50.0), reaching a 14-month high of 50.2 in November. This movement into expansion territory is a promising development, suggesting an improvement in domestic demand.
"Overall growth remains modest and sector-specific challenges are still evident: investment goods production saw a strong rise in production volumes, but consumer and intermediate goods saw contractions. The data also shows that large firms saw production volumes increase, however this wasn't the case for SMEs who continued to experience a downturn. It is positive to see business optimism rise to a nine-month high, with over half (56%) of manufacturers expecting their level of output to increase over the next year.
“The Chancellor’s announcements last week came at a critical time for UK manufacturing, the Government’s continued focus on the UK’s industrial and sectoral strengths across our global, national, and regional manufacturing base and supply chain is important. Further investment in advanced manufacturing in UK regions is a positive step towards supporting economic and inclusive regional growth. Overall, November’s PMI provides a narrative of cautious optimism for UK manufacturing, as business digest the Budget announcements, the tide could turn either way."
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