Regional Manufacturing Outlook 2020 Q3 Report
06 November 2020
Britain’s manufacturers slash investment in a battle to stay afloat despite improvements in output and orders
Welcome to the latest edition of Manufacturing Outlook, BDO's quarterly report with Make UK, providing key business trends and future prospects in UK manufacturing. The Q3 report is the second edition to include a comprehensive overview of the impact, so far, of COVID-19. Following the record breaking falls seen in the second quarter of 2020, the latest survey indicates that manufacturers are still faring poorly in the current economic climate, but performance in comparison to the last quarter has improved.
Download the report* for detailed UK manufacturing, sub-sector and regional insights. In this edition the sectors sentiment, analysis of manufacturing output, orders, investment and employment intentions are explored and an outlook for the final quarter of 2020 is provided.
*Report written & published by our colleagues in BDO LLP.
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 the exit from the EU.
The Manufacturing Outlook Report is a Make UK/BDO LLP 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.