According to the Confederation of British Industry (CBI) a survey of businesses in the past few weeks shows that order books at UK manufacturing firms shows that demand has increased in 2017 and the rates are close to a 30 year high.
Key to the bouyancy are the motor car and engineering sectors, but the CBI say that’s all areas of the economy are showing positive signs.
Anna Leach, CBI Head of Economic Intelligence, said: “As we head towards the end of 2017, UK manufacturers’ total order books remain at a near 30 high, with export order books remaining at their strongest since the mid-1990s.
“While the lower level of sterling continues to support exporters, cost pressures remain intense. Businesses will expect to see the Government’s Industrial Strategy make rapid progress next year to support manufacturing and the wider economy in every corner of the UK.”
It’s never a bad thing when UKmanufacturing is doing well. It’s beneficial for jobs and the broader economy, as well as innovation and R&D. But the CBI is right to sound a note of caution: weaker sterling makes the UK a good place to buy but it does also mean that sourcing materials from overseas is more expensive.
And is there anyway that UK marketplace sellers can take advantage? It could be worth examining whether you’re better off now sourcing stock from within the UK, rather than from overseas. Hopefully a buoyant UK manufacturing sector can not only offer better prices than one in the doldrums but also supply you with unique goods that overseas shoppers will love.
