UK manufacturing industry contracts by almost 10%

The number of businesses fell from 270,000 at the start of 2021 to 244,140 a year on, analysis of Thursday’s figures by innovation funding specialist Catax shows.

In comparison, business numbers in the UK overall fell by 1.5% over the same period. Turnover in the sector fell by 9.2%, decreasing from £636bn to £577bn, while the number of people employed in manufacturing dropped by 1.7%.
 
The UK’s manufacturing sector continues to be hampered by falling orders, with output falling for a third month in a row this September, and orders declining for a fourth consecutive month.

"The manufacturing sector had a challenging 2021, with business numbers shrinking by nearly 10% - far exceeding the UK's overall business loss," said Catax CEO Mark Tighe.
 
"The fact that output and orders continue to fall is a concern when advanced manufacturing is still seen as part of the UK's future growth story. A significantly weaker pound could well have an impact on turning that around this year."

www.catax.com