For the first time in almost two years, investment in UK manufacturing is now set to fall as firms in the sector start to curtail spending considering the coming recession. Companies and consumers interested in assets in different UK sectors often seek out expert investment advice in Chester, Liverpool and other cities.
Trade body Make UK recently commented that the balance of its current members reporting an uptick in investment intentions over the last three months of 2022 has plummeted to minus five per cent, from an initial positive seven per cent. This marked the first time within seven quarters, following the height of the COVID-19 pandemic, that the measure had dropped to a negative figure.
The quarterly survey “Make UK/BDO Manufacturing Outlook” was recently published supporting the negative perspective. It forecasted that output would likely fall by more than four per cent this year, in comparison with the strong performance seen throughout last year and warned that further declines will follow.
Back in its September forecast, the UK trade body had anticipated growth of at least 0.6 per cent for the full year, though its outlook shifted based on the conditions for the manufacturing sector which have significantly weakened in the final quarter of 2022.
Additionally, the balance of manufacturing firms reporting an uptick in orders also dropped acutely in the final quarter of the year falling from 15 per cent to six per cent. Predictions for 2023 show that the measure will drop to minus two percent for the first three months of the year.
