Britain’s manufacturers are calling on the Government to work with industry and take whatever steps are necessary to mitigate the impact of coronavirus on the back of a survey showing exports have slumped to their lowest level in three years.
The key finding from the MakeUK report:
- Output fell sharply on back of weak orders and Autumn stockpiles wound down
- Domestic orders improve but still negative, worst run since 2015
- Export orders turn negative for first time since Q4 2016
- Evidence EU customer sentiment turning away from UK
- Electronics turns negative for first time since 2015 as access to semi-conductors and other components dry up
- Northern Ireland least optimistic area of the UK
- Manufacturing forecast to contract in 2020 by -2.1%
