UK manufacturing increases to its highest level in 30 years
June 1, 2021, 9:52 am

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A survey mentioned that easing the lockdown in the Kingdom led to the growth of manufacturing at rates not previously reached in 30 years.

The Manufacturing Purchasing Managers' Index (PMI) reached a high last month of 65.6, up from 60.9 in April.

Any reading above 50 indicates growth, and April's figure was the highest since the survey began in 1992. But there are also signs that suppliers are struggling to keep up with demand.

"Record growth of new orders and employment supported one of the steepest increases in production volumes in the near 30-year survey history," said IHS director Rob Dobson.

Mr Dobson said growth is being boosted by the unlocking of economies from Covid restrictions and ongoing vaccination programmes.

"This is being felt across the globe, as highlighted by a record rise in new export business during the latest survey month," he said.

However, the survey indicated that many suppliers are struggling to keep up with the increased demand, which is pushing up the average delivery times to manufacturers.

Businesses particularly highlighted shortages of electronics, plastics and metals, and there were also delays in transport.

In turn, this has led to the highest rise in the cost of supplies since the survey began in 1992, causing manufacturers to increase their own prices.

Delivery squeeze

Simon Jonsson, head of industrial products at KPMG UK, said: "Confidence is high among manufacturers as demand continues to soar, but there's a danger that many are only seeing the weather in front of them.

"Our closest European neighbours - France and Germany - are also witnessing similar levels of demand for their products. Supply chain bottlenecks are now starting to appear in Germany and fingers are crossed we will not see the same elsewhere."

Duncan Brock, group director at the Chartered Institute of Procurement & Supply, said: "The march of the makers has turned into a sprint as the blocks of lockdowns have been removed, but we haven't seen this level of price inflation on materials for decades."

He warned that supply chain managers anticipate a continuing squeeze on deliveries and are forward-buying and building stocks, so we may not have seen price peak yet.

"This means bigger inflationary pressures for the wider economy and the country's place in international trade," Mr Brock said.

Source: BBC

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”