03.08.2020
Commenting on today’s PMI data, James Brougham, Economist at Make UK, said:
“UK manufacturers have been eager to embark on the road to recovery, and those efforts would appear to be bearing fruit with improved orders allowing industry a greater degree of confidence it needs to drive output up.
“Nevertheless, industry has been through a profound shock, the impact of which will continue to be felt for some time to come, especially in those sectors which have been most heavily affected. While the data from one month gives some cause for optimism we are going to need consecutive months of positive performance to recoup the deep losses incurred by the pandemic, a prospect that is threatened by the continued loss in jobs which we are likely to see coming through the pipeline.”