Britain’s manufacturers can take heart from suggestions that their sector will outperform the economy as a whole this year.
This week the manufacturing organisation, the EEF, revealed the results of its most recent quarterly survey.
Their analysis showed that fluctuations in the value of Sterling had helped drive demand from overseas, with both output and orders rising upwards.
Lee Hopley, the EEF’s chief economist, said: “Stronger global growth has cemented the foundations for growth in manufacturing this year, but the sector’s contribution to the UK economy has been greater than most expected.
“The industrial strategy is now out of the starting blocks but it needs to maintain a steady pace on delivery of its policy commitments to anchor manufacturers’ growth and investment in the year ahead.”
The EEF is now expecting growth of 2.1 per cent across the manufacturing sector (this year) and 1.4 per cent in 2018.
These rises are running ahead of growth predictions for the UK economy as a whole, which is expected to rise by 1.5 per cent in 2017 and 1.3 per cent in the following 12 months.
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