New Survey Shows British Manufacturing Sector is Continuing to Bounce Back

27 June 2023

Manufacturers here in Britain have reasons to be relatively optimistic, according to Make UK findings.

A comprehensive survey that the organisation conducted, in conjunction with business consultancy BDO, shows increased production activity and profit margin improvements in the second quarter of this year. The sectors currently proving to be the most vibrant are avionics (thanks to large orders for new aircraft) and electronics (due to widespread ongoing investment in digitisation). Despite these positive indicators, Make UK still predicts a slight contraction in overall British manufacturing during 2023 though.

“Manufacturers are seeing a gradually improving picture,” James Brougham, Senior Economist at Make UK, comments. “Companies are at least seeing a relative period of stability after the political and economic turmoil of the last few years when they have spent most of their time firefighting. Substantial challenges still remain, however, and so long as there is an absence of an overarching industrial strategy growth prospects will remain anaemic at best.”

Richard Austin, BDO’s National Head of Manufacturing, adds; “Despite the first half of the year seeing some pressures easing, there are longer-term systemic challenges in the UK market, with built-in inefficiencies that need to be addressed urgently in order for UK manufacturing to effectively plan and invest.”  

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