11 June 2007
Manufacturing Performance 2006-7
The first edition of the new EEF Manufacturing Performance report sets out the contribution of manufacturing to economic performance.
- Manufacturing accounts for around 15% of total gross value added.
- Manufacturing continues to make a significant contribution to trade – accounting for 54% of total UK exports.
- Business R&D spending is driven by UK manufacturing – over three-quarters of total business R&D expenditure is carried out by manufacturing companies.
- Output has recovered in 2006 after a weaker performance in 2005 – according to both the official data and EEF's survey evidence.
- Manufacturing and engineering output were 1.5% and 2.1% higher in 2006q3 compared with a year ago.
- For the first nine months of 2006, output rose by 1.8%, which outpaced the rest of the UK economy as a whole.
- Business Trends data show output and orders balance in double digits throughout 2006 with exports leading growth.
- Manufacturing now plays a larger role in the Southern regions (South East, London, South West) which account for 43% of manufacturing output than in the Northern regions (Yorkshire & Humberside, North West, North East) which claim 39% of manufacturing output.
- Recent Business Trends results show manufacturing growing in all regions of the UK in 2006.
- Manufacturing productivity continues to outpace that of the economy as whole.
The report can be downloaded at http://www.engineeringtalk.com/more/346