Manufacturing in UK shows the best performance in 20 years

The Guardian informs that the UK is beginning to emerge from a deep and prolonged recession. This is evidenced by the restoration of the UK manufacturing sector. Experts predict the 2.7 % increase in production in 2014. In economics, this figure is equal to 2.4%.

Chief economist of the British Manufacturers’ Organization, Lee Hopley announced that production has a positive outlook. For many companies, the changes will mean an increase in the number of employees and investment activity.

Lee Hopley added that one should not expect a sustained recovery of British manufacturing as the global economy is still very unstable. Thus, despite the projected increase in production in 2014, the performance in this area of economy will fall by 0.1 % by the end of 2013, while growth of economy will be at 1.4%.

According to information provided by the British Manufacturers’ Organization, the main role in restoring the production belongs to companies-representatives of medium businesses. These are companies with a turnover of £ 10 million to £ 100 million, employing 50 to 499 employees.

Between March 2010 and March 2013 the medium businesses have created 185 thousand jobs. It is twice more than the large British corporation. Currently these companies fill the country's budget by more than £ 300 billion, and 16% of the workforce in the UK is employed in the production. State support can provide additional £ 20 billion profit in 2020. So far, automotive electronics and manufacturing have shown the best results in the field.