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UK manufacturing worth an extra £50bn

Manufacturing - The sector is worth £50bn - SantanderCB

Research by Cranfield University has found that Britain's manufacturing sector is worth £50bn more to the UK economy than previously thought.

It said the industry is worth £208bn a year to the UK, representing 13.5% of the economy, compared with the 10.2% normally quoted by the ONS.

The university's enhanced manufacturing growth index included the impact of activities such as product design and ongoing customer service support, as well as production, to reflect '21st Century manufacturing practices'. The research was validated by the EEF.

 

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