Expert Predicts Good Things For UK Manufacturing
When conditions in the manufacturing sector are good, demand for acrylic plastic, nylon plastic and other similar supplies tends to be high. After all, companies need to find enough resources to ensure they are able to meet demand for their goods.
Luckily for firms operating in the sector, it is now simple to access these plastics. By heading online, bosses can take their pick from an impressive selection of materials in the shapes and sizes they require.
If the predictions of one expert prove accurate, demand for engineering plastics will remain high for the foreseeable future.
Writing on The Information Daily, EEF Lee Hopley, chief economist at manufacturers’ organisation the EEF, suggested the sector is on the up. She stated: “In recent months, better news about the state of the sector has been rolling. EEF’s Business Trends survey covering the third quarter of this year reported the strongest set of results for two years. The balance of manufacturers increasing output rose to a three-year high; overseas orders posted a two-year high. Demand in the domestic market is also seeing something of a resurgence.”
She did note that figures released by the Office for National Statistics suggested that the industry hit a “rough patch” at the end of the summer, with output declining by 1.2 per cent month-on-month. Also, trade in the three months to August was “somewhat disappointing”, with goods exports down by one per cent.
However, this does not mean that a recovery in the manufacturing sector is faltering, she claimed.
About this, she remarked: “Manufacturing is an extremely diverse part of our economy – covering everything from food processing and clothing to high-end sports cars and power generation equipment. As such, different parts of industry will be subject to varying drivers of growth, and indeed temporary setbacks, as we saw in August.”
According to Ms Hopley, the recent fall in output was largely due to some big falls in other sectors, including food and drink, pharmaceuticals and electronics.
She added: “Even with a short term setback, there are clearly some important factors at home and abroad that are providing more support for our industrial sector at the moment. Firstly, the outlook in our major European markets has at least stabilised since the start of this year. Activity is picking up not just in the core of Europe, but anecdotal feedback points to more signs of life in periphery economies that have had the biggest economic struggle in the past few years.”
The expert also noted that British manufacturers are working hard to diversify into new export markets and emerging economies in South America and Asia. She pointed out that between 2010 and 2012, UK sales of manufactured goods to China were up by 40 per cent, while those to Russia increased by over 60 per cent. Meanwhile, sales to Brazil and Indonesia were up by a quarter and a half respectively.
The EEF forecasts a positive contribution to growth from manufacturing during the third quarter of this year, she noted.
About the Author – Anna Longdin is a freelance blogger who has written extensively on the subjects of manufacturing and engineering for a selection of sites, including AI International.
In a Car Accident? Here’s How to Find a Great Lawyer
If you’ve recently been in a car accident, you know that it can be an overwhelming experience. Not only do...
Considering Therapy? Here’s a Few Common Therapy Techniques Explained
If you’re considering therapy as a means to improve your mental health, you may be curious about the type of...
Top 5 Home Repairs You Should Never DIY
DIY home repairs are all the rage these days. But before you jump on the bandwagon, there are some things...
The Power of CBD Oil for Relaxation: How to Use it for Sleep and Stress Relief
If you’re struggling to get a good night’s sleep or feeling stressed, try CBD oil. CBD oil has a moment...
Benefits of Getting your Mobile Phone Repair
Mobile phone repair is a task that needs high skills and experience. That is why we always recommend users trust...
Great Ways To Clean To Get Your Security Deposit Back In Full
Moving is almost always stressful as there are tons of things to plan and do. Getting your security deposit back...
DIY Garage Door Repair: Tips and Tricks for Fixing Common Problems and Maintaining Your System
If your garage door needs to be fixed, wait to call a repairer. Many common problems can be fixed quickly...
7 Tips to Choosing the Right University for You
Are you considering continuing your education at university? If so, it can be overwhelming to decide which school is right...
3 Ways Loans from Credit Unions Are Different From Major Banks
If you’re in the loan market, you may wonder if a credit union is the right choice. Here are three...
The World of Coffee: Exploring the Aromas, Flavors, and Benefits of the World’s Most Popular Beverage
Coffee is one of the world’s most popular beverages, enjoyed by people of all ages and backgrounds. It’s also one...
New Driver? 5 Things to Consider When Looking for Driving School
When it comes to choosing a driving school, there are many factors to consider. Not all driving schools are created...
Landscape Irrigation Systems: The Basics
If you’re a homeowner, you know that keeping your lawn and landscaping looking nice can be a lot of work....
5 Things to Look for in Luxury Hotels
When it comes to luxury hotels, there is a lot to look out for. Here are five key things that...
Is There a Difference Between Commercial and Residential Concrete?
If you’re a contractor, you know that concrete is a versatile construction material. But did you know that there are...
5 Tips to Find the Right Litigation Firm
When it comes to selecting the right litigation firm for your legal needs, choosing wisely is of utmost importance. It’s...
Tech8 years ago
Creating An e-Commerce Website
Tech8 years ago
Design Template Guidelines For Mobile Apps
Business3 years ago
What Is AdsSupply? A Comprehensive Review
Business7 years ago
The Key Types Of Brochure Printing Services
Law2 years ago
How Can A Divorce Lawyer Help You Get Through Divorce?
Tech5 years ago
When To Send Your Bulk Messages?
Travel11 years ago
Who Else Wants Also Nfl Hat
Tech2 years ago
5 Link Building Strategies You Can Apply For Local SEO