LONDON: Sales are booming at British factories thanks to strong international demand. Companies are seeing strong growth in exports and orders from European markets in particular, according to the manufacturing group EEF and accountancy firm BDO.
They said output in the fourth quarter rose by 34 per cent and total orders increased by 30 per cent, and upgraded their forecasts for 2018, predicting the manufacturing sector would grow more quickly than the rest of the economy.
British factories: Forecasts for 2018 sales have been upgraded after total orders increased by 30% during fourth quarter
To address demand, firms are making their biggest investments in more than three years.
Lee Hopley, EEF chief economist, said factories had contributed more to the UK economy than expected, adding: ‘Not only have we seen consistently positive survey responses in each quarter this year, but growth has been evident across all industry segments and regions.
