Stunning new data from the CBI Economics Industrial Trends Survey has revealed how Brexit Britain’s manufacturing sector is surging with record output growth and the fastest growth in new orders since 1974.
The intel comes from a huge survey of 250 manufacturing businesses and revealed output growth in 16 of 17 sub-sectors of British manufacturing, with the strongest growth coming in motor vehicles and transport equipment, and in food, drink, and tobacco.
Domestic orders surged at their fastest rate on record and export orders grew for the first time since January 2019, as employment in the sector expanded at its fastest pace in nearly half a century – with forecasters now predicting that employment will accelerate even further in the next three months.
“Record growth in manufacturing output volumes is further evidence that UK industry is reawakening following the economic ravages of the pandemic” said CBI Chief Economist Rain Newton-Smith.
“Demand is rising rapidly, leading businesses to hire more staff and plan further investment in plant & machinery and training. Encouragingly, manufacturers expect further record output growth in the coming quarter.”
But Newton-Smith warned that problems may lie ahead with rising numbers of people being forced into self-isolation as a result of the ongoing Test and Trace pingdemic.
“Businesses have already endured a prolonged period of inhibited demand, so it is vital that government now takes all possible steps to protect this resurgence in activity.
“In the short-term, that should mean an immediate rethink on self-isolation rules. A test-and-release system which enables healthy people to return to work would help, as would freeing double-jabbed people from isolation obligations. This would ensure manufacturers can operate at full capacity, and work towards capitalising on a swift recovery.”
It’s just the latest economic good news to hit the country in recent weeks, with this website reporting earlier this month how exports to the EU surged by 8% in May despite a raft of Project Fear lies.