Concerns over manufacturing growth

Concerns have been raised over the rate of growth in the manufacturing industry, after figures failed to rise as much as expected.

The Purchasing Managers’ Index (PMI) showed a growth in the industry in March, but the number was down on figures seen in January, February, and the last quarter of 2010, The Manufacturer reported.

Experts are now concerned that the continued decline is an ongoing trend, rather than a blip on the road to recovery.

PMI author Rob Dobson told the online magazine: "The big question is…whether the drop in order book growth represents a gathering in momentum of a more worrying slowdown which, alongside rising inflationary pressures, raises the risk of stagflation."

The manufacturing industry was hit hard by the recession. Orders fell at the fastest rate in a decade as the credit crunch took hold in late 2007 and early 2008.

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