Manufacturing PMI rise: Bibby Financial Services UK MD comment

Derek Ryan, UK managing director, Bibby Financial Services: “Today’s PMI rise is a welcome step forward, with stronger domestic demand and easing supply-side pressures offering some relief. But high costs continue to bite, and the Autumn Budget offered little relief – particularly for SMEs already under severe strain.

Our latest SME Confidence Tracker shows nearly two-thirds (64%) of SME manufacturers now cite high costs as a major challenge – the highest of any sector. And pressure is only set to intensify, with rising energy bills, higher wage costs and new limits on salary-sacrifice pensions looming in 2026.

Momentum may be improving, but post-Budget it’s clear that without more decisive, targeted support from government for small manufacturers, sustaining growth and building long-term resilience will be an uphill battle.”