Brexit uncertainty bites for manufacturers

Commenting on the latest results from the Markit/CIPS PMI manufacturing survey, Mike Thornton, Head of Manufacturing at RSM made the following comment:

‘Following recent downbeat economic warnings, it could be surprising to see a slight uplift as the PMI score increased to 53.1 from 51.1 in October. However, uncertainty is impacting performance in the market with new export orders taking a hit again this month; and as a result, overall optimism has hit a 27-month low.

‘Whether manufacturers love the Brexit agreement or loath it, the attractiveness of maintaining free trade; a commitment to customs and regulatory cooperation; and securing a transition period are all more compelling than the prospect of a no deal option. Ultimately, manufacturers just want certainty, so many will be hoping the deal is approved next month – drawing a line under the uncertainty and allowing manufacturers to plan for the future.’