2017 has brought a lot uncertainty to all UK retail, export and manufacturing businesses, with Brexit looming and a surprise snap election. However, as the year comes to an end, the manufacturing sector has stepped up, according to EEF research.
The UK is currently the 9th largest industrial nation, despite fearful news headlines, and manufacturing accounts for a huge 45% of all UK exports.
On the whole, manufacturers have experienced a positive 2017. With continued growth in international sales in general, the manufacturing sector has bounced back from the previous quarter, which saw a slight decrease in output by 0.6%. Output balances have advanced more than expected, with companies reporting an increase in output over the last three months shooting up to 34% from 26%.
Metal manufacturing has seen a massive increase as 68% of companies within the sector have reported output growth in the last three months. Redhill are pleased to be conforming to industry trends with notable sale increases in a number of their most popular ranges: hazardous cabinets sales have increased by a whopping 77%, metal sack trucks by 27% and mobile safety steps by 22%.
According to Office for National Statistics, industrial production has risen by 0.7% month-on-month and export orders have increased to 33%, as overseas demand continues with importers taking advantage of the weaker exchange rate. Once again Redhill can report similar findings, with an overall increase of 12% in production output and a 10% increase in export sales to European countries.
Within the British manufacturing sector, employment has reached its highest level in more than three years. Due to high output and orders, this is unsurprising, ensuring manufacturers meet a growing demand.
Consistent to data trends, Redhill Manufacturing has seen an increase in output and orders, in the UK, EU and further afield: a promising finish to the year and an even better start to 2018, as continued growth is expected.
Whilst 2017 and 2018 holds onto uncertainty, Redhill remains optimistic for the coming months and year ahead.
Sources:
The Manufacturer
Financial Times
digitallook.com
Manufacturing Outlook, 2017, Quarter 3 – EEF
