UK Manufacturing beats expectations for fifth month

In News by mark@r50marketing.co.uk

The UK’s manufacturing industry has beaten expectations for the fifth consecutive month, according to a new survey. 

Exports strengthened on demand from China and the United States as European buyers stocked up prior to the Brexit trade deal deadline. 

Intermediate and investment goods industries accelerated significantly, however; consumer goods slipped back into contraction as COVID-19 came to the fore again. 

Rob Dobson, director at IHS Markit, commented: “October saw the UK manufacturing recovery continue, albeit with the upturn losing momentum amid ongoing lockdown measures and signs that growth could weaken further in coming months after Brexit-related stockpiling.” 

As a result of Prime Minister Boris Johnson’s announcement last week that confirmed a second lockdown, it was revealed that workplaces should remain open where people cannot work from home which spells good news for the manufacturing sector.

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