In our latest fact card, UK manufacturing runs ahead of whole economy productivity growth. This helps to explain why pay across the sector outpaces the whole economy. More broadly, exports remain in the driving seat in explaining manufacturing performance.
- Productivity growth: 3.1% across 2012 to 2017 for manufacturing, but significant sector differences.
- Whole economy productivity growth was 2.4% and services 2.4% across the same period.Average pay outpacing:
- Manufacturing pay is £3,358 higher than whole economy and £4,188 higher than services, at £32,467 for manufacturing – all manufacturing sub-sectors except food and drink have higher average wages than the service sector.
- Exports still solid: now 45% of UK exports come from the sector. The UK is 4th in the world for exports (10th for goods, 2nd for services).