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Trade body predicts UK manufacturing to outperform wider economy

The manufacturers’ association EEF has published the results of its quarterly survey, which found UK manufacturing to be in robust condition. The trade body predicts that an increasing export market will mitigate any effects from Brexit uncertainty, meaning that the UK’s manufacturing sector should perform better than other areas of the economy during 2017 and 2018.

EEF’s research for the fourth quarter found that more companies are reporting production rises than declines. Total orders were 7 points lower on the third quarter at +30pc, but EEF still describes this as “very healthy” given that this quarter is following near historic highs. Based on this positive data, the EEF has raised its growth forecast for the sector to 2.1% for this year and 1.4% for next year.

EEF chief economist Lee Hopley said:

“Stronger global growth has cemented the foundations for growth in manufacturing this year, but the sector’s contribution to the UK economy has been greater than most expected.”

While the relatively low value of sterling had made UK exporters more competitive by making goods cheaper for foreign buyers, there are other ways to increase productivity that should not be neglected, such as good lubrication management. Mobil UK distributors can supply advanced lubricants that can protect your equipment and reduce downtime. Mobil DTE 10 Excel 32, for example, can through its exceptional hydraulic efficiency help to lower power consumption and boost equipment production, as well as lower maintenance and downtime by keeping systems clean for three times longer than some competing hydraulic oils.

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