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UK manufacturing policies directly influence the health of British industries, impacting sectors from automotive and aerospace to defence and energy. With the government pushing forward on ambitious targets such as achieving Net Zero emissions by 2050, manufacturers across the UK are feeling both the opportunities and pressures from these regulatory changes.
The latest monthly CBI Industrial Trends Survey reports that UK Manufacturing output looks promising. They suggest that output has increased strongly and faster since the end of 2017. According to CBI, growth was broad-based, with output increasing in 14 out of 17 sub-sectors. Among the top performers are food, drink and tobacco and mechanical engineering.
Total order books show similar, healthy levels resembling that of December 2017. Exports remained stable, well above average and in line with the past 16 months. Output price expectations for inflation softened to the weakest in almost a year while stock levels moved below average. It hasn’t been smooth sailing as the UK Manufacturing sector faced some serious challenges.
While the CBI believes manufacturers will continue to benefit from robust external demand and the lower exchange rate, overall economic growth is expected to remain subdued. This comes as a result of weak consumer income growth and the continuous uncertainty stemming investments.
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