Manufacturing growth accelerates in Brexit Britain

The UK’s manufacturing growth shot up last month, with both orders and employment seeing an increase. Activity in the sector has jumped to a four-month high.

The Markit/CIPS purchasing managers’ index (PMI) for manufacturing rose to 56.9 in August from 55.3 in July. A figure above 50 indicates that the sector is expanding.

The survey found that production also increased at the fastest rate in 7 months, largely due to the increase in new orders being placed. Additionally, the rate of job creation recorded its fastest pace in 13 months, according to the report.

Markit economist, Rob Dobson, said: “The survey data suggest that the manufacturing economy remains in good health despite Brexit uncertainty, and should help support on-going growth in the economy in the third quarter, which will add fuel to hawkish policymakers’ calls for higher interest rates.”

Not exactly economic destruction then. Another Remain myth bites the dust!