Make UK/BDO Manufacturing Outlook
Make UK/BDO Manufacturing Outlook
UK manufacturers seeing a boost in growth prospects
After a mixed start to the year, UK manufacturers are seeing a boost in growth in the second quarter with output and export orders picking up, with the sector now forecast to outpace the economy overall this year.
Positive investment activity, jobs growth and an expansion in output are all encouraging signs for the sector. Furthermore, manufacturers’ confidence in their own business is at its highest level since the start of 2022. With inflation slowing and supply-chain disruption easing, manufacturers are feeling more upbeat.
Despite an overall positive picture, there are signs of slowdown in the domestic market, with manufacturers relying more on exports to fill their pipelines of work.
Our Make UK/BDO Manufacturing Outlook report details the results from our latest survey, in partnership with Make UK, into the performance of manufacturers across the UK.
Download the Q2 report for detailed insights into the performance of the manufacturing industry over the past three months across our core indicators – confidence, output, orders, employment, and investment – including expectations for the second half of 2024.
Digital transformation in the manufacturing sector – a viewpoint
This quarter’s viewpoint piece comes from Andrew Souyave - Digital Advisory Services Director at BDO - who takes a look at digital transformation in the manufacturing sector and shares key considerations for manufacturers when implementing new IT systems. Read the viewpoint piece here.
If you would like to discuss any of the topics raised in this report, please get in touch with Richard Austin or your dedicated BDO Manufacturing partner.
Download our Make UK/BDO Q2 Manufacturing Outlook Report for detailed manufacturing sector insights.
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