09 Sep UK Manufacturing On The Rise
The UK manufacturing sector grew at its fastest rate for over six years, as companies and their clients restarted operations following coronavirus lockdowns.
Data from research firm IHS showed that industry performance rose to a 30 month high of 55.2 in August, up from 53.3 in July. Anything above 50 indicates growth.
The figures means the sector is on course for a full recovery.
Underpinning the growth was the fastest increase in new orders since November 2017.
The domestic market remained the prime source of new contract wins, although manufacturers also mentioned improved demand from the EMEA region, North America and Australia.
Domestically, customers are playing their part in the recovery of the UK economy, with an upswing in new orders accelerating to the fastest rate since November 2017.
It’s good news from overseas too with a small uplift in export orders for the first time in almost a year, as optimism across the board was maintained that business could only get better.
The manufacturing industry seems the sector may be experiencing a ‘V’ shaped recovery, with the fastest rate of growth in the manufacturing sector since May 2014.
At Constant Group we have been delighted to see our busiest period on record over the summer period
As essential workers we have been providing support and services to a number of industries including Food, Telecoms, Power Generation and Medics.
We would like to thank our loyal staff. We’re truly inspired by your personal commitment to making a difference.
You can count on Constant to support you today and for years to come.