since the Coalition took over, confidence in the UK and its ability to tackle its economic debt crisis has significantly improved. Its a classic example of when people and businesses have confidence in politicians to make the right decisions and the resolve to see things through, economic activity and planning for the future picks up. So its great news the UK’s manufacturing sector grew at its fastest rate for 16 years last month.
The purchasing managers’ index climbed to 58 compared to 55.4 the previous month.
As I have discussed in previous posts we need manufacturing and a growth in exports to play an important role in our economic growth as consumer spending in the UK comes under pressure next year with the spending cuts starting to feed through and the VAT rise. Its great news that our manufacturing base is rising to that challenge.