UK Manufacturing Sector Shows Resilience Amid Global Headwinds
Factory production hits 25-month high in October as new business rises despite persistent supply chain disruptions.
Carla Rooney
UK manufacturing activity expanded in October, defying ongoing global challenges.
The S&P Global UK manufacturing PMI survey recorded a reading of 52.8 in October, an increase from 51.9 in September. Factory production reached a 25-month high.
Manufacturers reported stronger levels of new business. Demand from both domestic and international clients increased, with key markets including China, the EU, and the US contributing.
showed resilience in the lead up to the autumn Budget.
Rob Dobson stated that manufacturing firms "showed resilience in the lead up to the autumn Budget." Firms reportedly increased prices to counter cost pressures from fuel and energy.
Manufacturers continued to face longer delivery times. Shipping re-routing, port congestion, material shortages, and transport disruption due to global conflict caused these delays.
Firms pass on some of these increased costs to clients through higher selling prices.