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It's not all doom and gloom
25 January 2013
While there is understandably much doom and gloom being spoken about the fact that GDP decreased by 0.5% in the last three months of 2010, it should be remembered that for the manufacturing sector the news was better. The sector saw the greatest growth, with output rising by 1.4%.
The CBI, in its January Quarterly Industrial Trends Survey, reports that the manufacturing recovery is well on track, driven primarily by export orders. Ian McCafferty, chief economic adviser, says: â€œThe recovery in the manufacturing sector is firmly in place and looks set to continue. Production has been boosted this quarter by strengthening in both domestic and overseas demand and, over the next three months, companies expect further growth, driven by another rise in export orders.â€
Results from the Manufacturing Technologies Association (MTA) monthly survey of its members show that in December order intake increased by 10% and invoiced sales grew almost 60%. It believes business confidence is on the increase and that employment trends remain positive.
The UK remains the world's sixth biggest manufacturer, a fact of which many still are unaware. Appropriate then that the MTA has announced the 'Manufacturing Industry Awards' (see page 57). It is collaborating with the sector's other Trade Associations with the aim of strengthening the engineering agenda and showing the significance of the industry. It's a chance to shout loudly about the many success stories in manufacturing.
Let's hope it gets the message across once and for all that UK manufacturing is very much alive and looking to the future.
Val Kealey, editor, IP&E