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PMI manufacturing statistics - Barclays' comment

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

“Manufacturers continue to grind out positive results helped by a recovering global economy and a weaker pound, allowing the industry to post the strongest rate of export growth for more than seven years. Healthy order books and promising levels of new investment are driving performance within this key sector. However, despite a slight easing on the cost side in July, cost challenges are still circling and margins remain under pressure. Higher prices may take their toll on domestic demand which has been fuelling growth in the first half of the year, so the timing of this return to strong export growth could not be better.”
About Barclays

Barclays is a transatlantic consumer, corporate and investment bank 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 .