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PMI manufacturing statistics – Barclays’ comment

Mike Rigby, Head of Manufacturing at Barclays, comments on on today's PMI manufacturing figures.


“Following the buzz created around the Industrial Strategy at the start of the week, today’s stats continue the momentum with manufacturing reporting robust figures for November. The benefits from a weak sterling and an improving global economy are filling order books and manufacturers remain confident. That said, we mustn’t overlook that cost challenges continue to pose a threat, not only from elevated import costs but also from the growing effect of domestic costs from sources such as energy and staffing which will all contribute to inflationary pressures. What the sector needs now is manufacturers following through, more and quicker, on investment intentions, particularly in areas such as smart tech, which is vital if the sector is to boost productivity and remain competitive at an international level.”
Notes to editors

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About Barclays

Barclays is a transatlantic consumer and wholesale bank with global reach, offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US.

With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs approximately 85,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

For further information about Barclays, please visit our website www.home.barclays .