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Manufacturing PMI ''remains at peak levels''

2 March 2011
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Manufacturing PMI ''remains at peak levels''Activity in the manufacturing industry continued to grow at a record rate in February, following on from a series high seen in January this year.

The latest Purchasing Managers' Index (PMI) for the sector stood at 61.5, with any number above 50 suggesting expansion, as strong export activity continued to boost new orders.

According to the figures from Markit and the CIPS, the PMI has been higher than 50 for 19 consecutive months, with high levels of new orders driving output and record rates of job creation in February.

However, those concerned with manufacturing management may also be interested in comments made by CIPS chief executive David Noble, in which he warned: "The fly in the ointment remains macro-level inflation which is likely to go from bad to worse due to the unrest in Libya and escalating oil prices."

In related news, EEF, the manufacturers' organisation, has urged the chancellor George Osborne to include policies aimed at boosting growth and jobs in the sector in his 2011 Budget this month.ADNFCR-3058-ID-800438009-ADNFCR
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