February 2024 witnessed the UK Manufacturing Purchasing Managers’ Index (PMI) climbing to a 10-month high of 47.50 points, marking a slight increase from January’s 47 points.
The slight improvement in the UK Manufacturing PMI points to a sector attempting to stabilize amidst challenging conditions. However, the ongoing issues stemming from the Red Sea crisis, including supply disruptions and input cost inflation, continue to pose significant threats to this stability. Market participants and policymakers alike are keenly observing these developments, as any decision regarding interest rate changes will have profound implications for the manufacturing sector, the broader economy, and the Pound Sterling’s trajectory.
As the UK manufacturing sector navigates through these turbulent times, its resilience and adaptability will be tested, offering valuable insights into the broader economic recovery post-crisis.
Accrol Group Holdings plc (LON:ACRL) is the UK’s leading independent tissue converter, producing toilet tissue, kitchen towel, facial tissue and biodegradable wet wipes. The UK soft tissue market is worth £1.6bn with private label products comprising circa 50%. Accrol is the leading supplier to the private label market, which is growing at over 8% year on year.
