UK Manufacturing Output on the Rise
According to recent reports, the output of UK manufacturing is at its fastest rate since the mid-90s. In the three months leading up to July, the growth of the market grew at a rate not seen since January 1995. This is good news for the sector as it sees more jobs available and more money coming into the industry.
At the end of June, as we took a look at what had happened within the industry, we were talking about how UK manufacturing orders were soaring as they reached their highest levels since 1988. This seems to show the robustness of the industry which looks as though it is going from strength to strength.
As orders and output grows, it gives the sector the opportunity to grow in terms of employment. This is great news for young minds in the engineering and manufacturing industries who are looking to advance their careers.
According to the report from the Confederation of British Industry, there is great optimism within the industry, with 18% of surveyed firms stating that they were more optimistic about the general business situation than three months ago. This optimism and confidence is often powerful enough to have an impact on business and the success of an industry, so it is reassuring to see confidence in the future of the sector.
This news has coincided with the announcement that the electric Mini will be built at its Cowley plant near Oxford. While BMW has previously expressed concerns over the suitability of Britain as an export hub in the wake of Brexit, this news is a welcome decision for British manufacturers.
While we expect to see highs and lows in the market over the coming years, the investment that we are seeing in the sector seems to suggest that it is going in the right direction.‹ Back to NewsContact Us