Daily Express

Our worldwide orders flood in

- By David Shand

BRITAIN’S manufactur­ing sector grew for the fourth month running in November as a weaker pound sparked an increase in new business from around the globe.

Production lines churned out more goods for customers in America, the Middle East and Europe, according to a closely watched snapshot of industry activity.

The Markit/CIPS manufactur­ing purchasing managers’ index dipped slightly from October’s 54.2 reading to 53.4, but was still well above the 50 mark denoting growth.

The update on manufactur­ing, which generates about 10 per cent of GDP, came as the CBI forecast a £208 billion boost to the UK economy over the next decade from improving productivi­ty around the country.

The business lobbying group said this value could be added by bringing each area up to the same level as the top performer in their respective region.

This could be achieved by improving transport links between cities in the North of England, reducing urban congestion, focusing on building the right skills and opportunit­ies for young people and targeting Government help for firms with exporting potential.

The CBI said it is developing regional productivi­ty “scorecards” that will assess the performanc­e of local areas relative to the rest of the UK, providing evidence to identify practical steps to plug the gap between regions.

CBI director-general Carolyn Fairbairn, pictured, said: “Some of our regions and nations have been left behind. There is a real gulf in opportunit­ies between people in different parts of the UK. You might expect big gaps in productivi­ty between regions, but productivi­ty difference­s within regions are almost as big.

“For example, Solihull is a third more productive than Wolverhamp­ton, just 20 miles away, where you’ll earn on average £5,000 less.

“Raising productivi­ty across all parts of the UK should be the single most important domestic goal of the next five years.” The purchasing managers’ survey highlighte­d rising cost pressures from sterling’s weakness, leading to higher selling prices at the factory gate.

IHS Markit senior economist Rob Dobson said: “The pace of expansion is solid and above its long-term trend.

“This should be sufficient to ensure manufactur­ing is a positive contributo­r to fourth quarter GDP.”

 ??  ??

Newspapers in English

Newspapers from United Kingdom