Growth of UK Manufacturing Becomes More Evident
According to a recent article on the BBC News website, the Office for National Statistics has revealed a 1% increase in the total scale of UK manufacturing output. Despite being a small figure, the importance of this development cannot be overstated.
This growth was observed in February and, when compared to previous year-on-year statistics, the output is actually 3.8% more significant than it was in February 2013. Industrial output is an especially notable part of this welcome expansion, as it alone posted a 2.7% increase over the figures that were published one year previously. Manufacturing output has actually never been higher since the close of 2011, and positive trading conditions are signifying an invariably optimistic growth rate for the first quarter of 2014.
The manufacturing sector has been pinpointed as a contributor of vital importance to the UK economy, and Chancellor George Osborne has targeted this area within his plans to 'rebalance' the country's economy. The manufacturing industry within the UK is still some way behind the scale that was evident in 2008, before the recession years, but despite its relatively limited share within the economy as a whole it remains an important factor in continued economic recovery.
Several of the industries mentioned in the BBC article – including the pharmaceutical industry, and the oil and gas sector that was so affected by the poor January weather – are markets that the European Springs team supply with a vast assortment of springs and pressings, so their fortunes naturally concern us greatly. For example, we distribute extremely fine wound spring components for a diverse assortment of medical procedures, and the national pharmaceutical industry (and also the international one for that matter) greatly relies upon our specialist products.
As well as providing components for many manufacturing enterprises across the UK, we are proud to be an industry that is itself an integral part of the UK manufacturing scene. As a result of this, we are delighted to see that the tide has now turned, and that the long awaited manufacturing growth is not only taking place, but is being seen on a strong and consistent basis. Our client base is exceptionally varied, covering many noteworthy sectors, and we always uphold the famously high standards of UK manufacture by carrying out all work to the very best of standards. If you need leading spring manufacturers who specialise in meeting the most exacting needs, then contact us now and we'll be pleased to help.