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PMI manufacturing statistics – Barclays’ comment

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

“Although slightly down from August’s high, manufacturers continue to report healthy order books and encouraging levels of new investment and employment keeping output in positive territory last month. Yet, at a time when we are seeing the fastest pace of innovation in technology there has ever been, it’s frustrating to see manufacturing still stuck in a period of low growth. The benefits of a weak sterling and an improving global economy may not amount to much for the sector unless it invests more to improve efficiency and ramp up capacity. With cost pressures remaining elevated and margins being increasingly squeezed, it’s only a matter of time before manufacturers raise prices which will likely impact the domestic demand that has been fuelling growth in the sector.”

Notes to editors

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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 .