British manufacturing faces two years of ‘anaemic growth’ as demand continues to lag.
Forecasts from Make UK suggest the sector will remain ‘flat’ this year and grow by just half the rate of the rest of the economy in 2025.
‘Manufacturers face both their domestic and European markets being flat with little sign of any upturn,’ said Fhaheen Khan, at Make UK.
No upturn: Forecasts from Make UK suggest the sector will remain ‘flat’ this year and grow by just half the rate of the rest of the economy in 2025
But the survey of more than 300 companies found those in electronics, aerospace and food and drink are more optimistic, while the South East and Wales are top performing regions.
Richard Austin, at BDO, which helped with the report, said: ‘We have reached a tipping point where regional disparities may permanently affect the manufacturing sector.’
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