Commenting on today’s PMI data, Seamus Nevin, Chief Economist at Make UK, the manufacturers’ organisation, said:
“Manufacturing emerged from its longest decline since the 2008 Financial Crisis in January, and the reduced levels of political and global trade uncertainty are continuing to bring improvements in manufacturing performance and confidence as we get further into the new year.
“Domestic performance is rebounding. However, there are emerging signs that the coronavirus is impacting business while the downward trend in new export orders is a growing concern. Coming as it does on the day the UK kick-starts our future trade negotiations with the EU and US, all eyes will be on the nature and quality of any trade deals secured over the next nine months.”