Despite plenty of doom and gloom from the post-Brexit press. the manufacturing industry reports it has reached its highest level for more than two years.
The Markit/CIPS purchasing managers’ index for the sector rose to 55.4 in September from 53.4 in August. A figure above 50 indicates expansion.
The weakening pound makes UK goods more attractive to overseas buyers, but has contributed to a rise in operational costs.
Lee Hopley, chief economist at the manufacturers' organisation EEF, told BBC News it was an "expectation-busting surge in manufacturing activity" that pointed to conditions across industry being "considerably better than business-as-usual".
However, economists believe that now is the perfect time for manufacturer’s to carve their niche in British made production.
Here at Fashion Enter’s north London factory CEO Jenny Holloway said:
- “It's time the big guns of retail realised they need the manufacturers, and relationships take time to develop. We have one ludicrous situation whereby one big retailer we are in talks with can't turn around the labels for over a month. By that time we could have made them 32,000 garments that are right for now. Consumers know what they want when they see it. Retailers have to motivate their latent wants and that's by offering latest styles in the latest prints at affordable prices. We are absolutely flying with ASOS.com.”
For more: http://www.fashioncapital.co.uk/industry/news/324-industry/15256-british-manufacturing-best-for-two-years