Electronics Production | January 15, 2008
UK manufacturing more difficult in 2008
According to EEF, the Manufacturers' Organisation in the UK, next year will be more difficult for UK manufacturers which have suffered a slowdown in recent years, however companies will not be hit hard.
According to Steve Radley, chief economist at EEF, the trend of moving manufacturing from the UK to countries like India and China has slowing down. UK has increased productivity by 25% in the last year, Telegraph reports. Mr. Radley also mentioned that UK Manufacturers selling into dollar-related markets were hit harder due to the weak dollar. However approximately 60% of UK exports are within the European Union.