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Manufacturers set to outpace GDP growth

UK manufacturers’ output is set to increase by 2% this year, beating the 1.5% growth in GDP that is forecast, according to a survey from manufacturers’ organisation EEF and accountancy firm BDO.

378 firms were surveyed, and +30% of them reported an increase in output and orders for the first three months of 2018.

Lee Hopley, chief economist at EEF, said: “it’s been a largely positive start to the year and the forward-looking responses in our survey, together with the indications of confidence over the longer term lead me to predict that three months from now we’ll be looking at a similar picture.”

The positive news comes as we recently announced our Supplier Partnership Programme, which sees us partner with manufacturers, suppliers and other vendors to provide their customers with easy access to finance.

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