Great Britain has achieved the biggest indicators in production over the past 30 years. The British industrial sector broke the record on the wave of restoration of the national economy from a pandemic, writes “Bi-Bi”.
According to the IHS Markit analytical company, the business activity index in the manufacturing sector of Purchasing Managers’ Index (PMI) in May reached a maximum with a value of 65.6 percentage points compared with 60.9 percentage points in April. Any value above 50 indicates growth, analysts explain. This value was not recorded in the United Kingdom since 1992.
“Record growth of new orders of residents, an increase in exports contributed to the sharp increase in production over the past three decades of observation,” the director of IHS Rob Dobson explained.
Dobson suggested that production growth is stimulated by the removal of coronavirus restrictions and campaigns for vaccination from COVID-19.
British economists emphasize that the extension of production has not yet turned into price increases only because most manufacturers have purchased raw materials in the forward price (fixed when concluding the contract).