Data from the latest Index of Production report from the ONS shows June output rose 1.2 per cent year on year for UK manufacturers, contributing to 0.7 per cent quarterly output growth for the sector. Considered alongside the latest survey from the Chartered Institute of Purchasing, finding that June saw business confidence for manufacturers reach its highest peak since 2011, analysts are predicting that British manufacturing could soon see a resurgence.
With this encouraging outlook in mind, Aldermore is taking an in-depth look at the manufacturing industry across the UK, focusing on a different region in individual blog posts. Beyond addressing the state of the industry in each location, the series will feature comments from local SMEs, recognising the small businesses that are crucial to driving growth in the sector.
By featuring the thoughts of these valuable SMEs, Aldermore hopes to underline the continued importance of the manufacturing industry within the UK and the role smaller businesses play in fuelling its revival.
Return to the blog tomorrow to view the first instalment in the series as we examine manufacturing in the North East of England.
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