The UK’s manufacturing sector grew at its fastest pace in 15 years, a new survey of purchasing mangers shows.
Statistics from a PMI survey by Markit and the Chartered Institute of Purchasing and Supply reveals that manufacturing output grew at the highest monthly level since 1994 in March this year.
Its PMI index jumped from 56.5 points in February to 57.2 points the following month, far surpassing the predictions of analysts.
One area of the manufacturing sector that has seen particular growth, despite an anticipated decline in sales, is the tobacco industry.
According to a recent report by Companies and Markets titled Tobacco: Global Industry Guide, the total market value reached US$396.9 billion (£264.9 billion) in 2008, an increase of 5.1 per cent.
Of that growth, Europe was leading the way, accounting for 36 per cent of all profit.
Britain’s export market has also been faring well, partly thanks to the lower value of the pound against other currencies.
This has benefited those who provide bulk material handling equipment to European purchasers.
Feeders – metering screw feeders – weighing systemsEmma Green