Industryweek 31704 England Flag 0

UK Manufacturing Growing

Aug. 21, 2018
Exporters, aided by the currency’s depreciation since the Brexit vote, are doing especially well.

U.K. manufacturing continues to benefit from the weaker pound, the Confederation of British Industry said in a report published on August 21.

While overall growth eased slightly in August, output and orders expanded at a pace above the long-term average.

Exporters, aided by the currency’s depreciation since the Brexit vote, are doing especially well. Export orders “remained strong,” the CBI said.

Manufacturing expanded in 13 sectors out of 17, with food, drink and tobacco giving the biggest boost to growth.

Industry expectations of output prices for the next three months rose. While price prospects are “comfortably below” January’s peak, they remain historically high, the CBI said.

Bank of England policy makers decided to unanimously to raise the benchmark interest rate to 0.75% at the beginning of August.

The central bank estimates that the economy is growing fast enough to generate inflation pressures and that a series of limited and gradual rate hikes will be needed to keep prices in check.

By Karoliina Liimatainen

Popular Sponsored Recommendations

Legacy Phone Lines Are Draining Your Profits

Oct. 30, 2023
Copper wire phone line expenses that support emergency devices could be costing your company millions of dollars in wasteful overhead expenses. Rates have been skyrocketing while...

The Manufacturer's Guide to Transforming the Service Experience.

Sept. 11, 2023
Learn how a unified data platform can make your service experiences more efficient while reducing costs. Turn your service center into a profit center and map your service transformatio...

Powering Up Productivity: The Transformative Power of AP Automation in Manufacturing

Oct. 25, 2023
Discover how AP Automation is revolutionizing the manufacturing industry, driving efficiency, cost savings, and security. In today's world, automation is the key to staying competitive...

The Executive Guide to Best Practices for Ecommerce Integration

Oct. 2, 2023
Get ready to elevate your post-checkout experiences and thrive in today's unpredictable market. Learn why integration and automation are crucial to run operations more smoothly...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!