Manufacturing Outlook Report
Manufacturers output and orders fall to levels comparable to the Global Financial Crisis
Welcome to the latest edition of Manufacturing Outlook, our quarterly report with Make UK, providing key business trends and future prospects in UK manufacturing. It is the most comprehensive barometer of the economic climate facing UK manufacturers.
Our Q2 report is the second edition since the UK left the EU as well as the first to include a comprehensive overview of the impact, so far, of COVID-19. Our previous publication, which reported emerging downturns across manufacturing even before the COVID-19 crisis had begun, indicated that many UK manufacturers were, at the time, feeling positive about the future, and a great number even gearing up to commit to capital investments in long-term projects. Unfortunately, our Q2 results make clear that those expectations have swiftly been undone.
In our latest report, read how manufacturers have performed in the second quarter of 2020 and their expectations going forward into the next quarter.
Download Q2 Report
If you would like to discuss any of the topics raised in this report, please do not hesitate to contact Tom Lawton or your usual BDO Manufacturing partner.
Why manufacturing matters?
The manufacturing sector is hugely important for the UK economy, trade and investment. UK manufacturing employment stands at over 2.7 million people and manufacturing accounts for nearly half of all UK exports. Manufacturing also contributes 10% of all Gross Value Added. It is not hard to see why manufacturing is key to the UK’s trade balance and to see that this will become all the more true post-Brexit.
The Manufacturing Outlook Report is a Make UK/BDO collaboration. It is important to us that we understand the challenges that you face in running your manufacturing businesses. It helps us use our skills, experience and knowledge to make a tangible difference to your business.