Following a series of sharp declines in output and orders last year, manufacturers have since indicated a swift bounce back as new work returned to unparalleled levels for many across the sector. Today, the pandemic appears to almost feel like a trove of the past with many UK manufacturers focused on the future, by investing in expanding capacity, innovating new products, and upskilling their workforce.
However, there are several risks to keep an eye out for which could hinder the sector’s growth, such as supply-chain disruption and labour shortages impacting manufacturer’s plans.
Growth prospects continue to accelerate for manufacturers as economies at home and abroad continue to open up. However, supply chain shortages and the rapidly escalating increase in shipping costs are threatening to put roadblocks on the road to faster growth despite the current optimism.
Stephen Phipson
Chief Executive, Make UK
The improved levels of investment we have seen for the second quarter in a row are hugely positive and are indicative of an industry that is confident of a future worth investing in. It feels like manufacturers are finally able to build some momentum, however the new levy has the potential to disrupt plans. Manufacturers have proved their resilience over and over again, but big challenges remain
