Manufacturing Growth

The flip side of the lag in consumer price inflation is the equivalent lag in export growth. However, a cocktail of factors has left the latter in buoyant form, as Q1 factory output PMI grew at its fastest rate for three years (57.3).  The weak pound has combined with strong global growth to stimulate manufacturing, adding confidence to an already well-performing UK industrial sector, which is expected to deliver above average real estate returns over the next five years.