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Manufacturing growth continues ''but slows''

1 April 2011
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Manufacturing growth continues ''but slows''There has been a further slowdown in the manufacturing industry during March 2011, new figures show.

Dipping further from a peak of 61.2 reached in January this year, the Purchasing Managers' Index (PMI) for the sector stood at 57.1, with any figure above 50 indicative of growth.

According to the latest statistics from Markit and the CIPS, the industry remained buoyant last month, but output price inflation reached a record high, pushed up by elevated cost inflation.

March saw a slowdown in new orders, particular in the consumer goods field, while intakes of purchases from domestic and overseas clients continued to rise.

However, the PMI was significantly higher than the long-run average of 51.3 and March marked the 20th consecutive month that producers have recorded expansion, with companies claiming demand from the US, Asia, Russia and the Middle East was increasing.

Markit senior economist Rob Dobson said: "The slowdown may simply represent a temporary easing from an unsustainably strong pace at the start of the year."

Recent data from the Confederation of British Industry indicated rising domestic demand has pushed up output in the UK manufacturing sector, but the organisation warned cost pressures may be threatening the industry's recovery. ADNFCR-3058-ID-800484458-ADNFCR
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