The end of 2017 saw a boom for British manufacturing
The UKs manufacturing sector was set to grow as its fastest pace since 2014, which is a dramatic boost for the economy amongst the expected exit from the EU.
Many UK plastic manufacturing businesses have reported buoyant orders from North America, Asia and Europe in the latest quarterly survey by the EEF (manufacturing organisation).
The manufacturing output came in at a whopping 57.3 last month, any reading above 50 indicates growth which is a positive aspect for the plastics manufacturing industry, as expansion is expected throughout the course of the coming years. This expansion will provide a substantial boost for the economy and for plastic manufactures all nationally.
A separate survey reflected that output beat expectations back in May because the weaker pound actually gave exporters a lift and new exports orders will remain above the long-term average.
Industrial production rose by 2.1pc in November in comparison to October, which will mainly driven by a strong manufacturing output and the reopening of the biggest oil field following a shutdown.
The office for National Statistics has said that manufacturing outputs have dramatically rose by 1.3pc in November; this data set the UKs economy to grow by 0.5pc in the final months. This positive growth throughout the manufacturing sector, will reflect highly on the plastic manufacturing industry, as the economic growth maintains pace and becomes better balanced; including a much higher rate of export opportunities being available.
This news comes as an extremely positive aspect for CJ Tool & Mouldings, as more opportunities will become available for the company, as we further assist our clients and potential clients.
Added: 02 Jan 2018 09:56
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