First economic indicator of the month

Source: Supply Chain Digital

Date :02/07/2007 12:10:00

The Chartered Institute of Purchasing & Supply and NTC Economics June PMI report shows robust expansion of output despite a slowdown in new order growth. .

The report says that output continued to show robust growth and the average rate of expansion for Q2 2007 was the strongest since Q4 2003. Higher output encouraged firms to raise employment, and manufacturing jobs have now been added in each month since the turn of the year

Roy Ayliffe (pictured), Director of Professional Practice at CIPS, said:

“The manufacturing sector has enjoyed a positive first half of the year with June showing further increases in new orders and higher employment levels. The sector is demonstrating long term progress with the rate of expansion for the second quarter of the year being the strongest since late 2003. Despite continuing inflationary pressures, purchasing managers have increased buying activity in order to meet higher production levels as well as to guard against possible future supply-side disruption."

The full report may be read on the Manufacturing Digital website www.manufacturingdigital.co.uk