Regional Manufacturing Outlook 2024
15.07.24
The Make UK/BDO Regional Manufacturing Outlook report examines the contribution of manufacturing to the economies of every English region and the devolved nations. It analyses the most recent official data and Make UK's quarterly data across a wide range of indicators, including output, orders, employment, and investment intentions.
Now in its 10th year of publication, this year’s Regional Outlook reports significant job boosts across the devolved nations’ respective manufacturing sectors, with the North East of England building on its strong performance in 2023 to once again produce the best results for output volumes and total orders this year.
The South West and Yorkshire and Humber have also performed strongly across output and orders this year, while Wales has shown significant improvements on last year’s results, posting the most improved average balance for every metric covered in the report.
Despite generally performant output and healthy order books, investment and employment growth have not seen the same. Between now and the publication of the next edition of this report, the sector’s attentions will turn firmly to the regional effects of whatever new, and hopefully bold, industrial strategy the new Labour Government will deliver to place the sector on a long-term growth footing.
Industry remains critical to the growth of the economy, providing high value, high skill jobs and aiding the process of creating wealth across the UK. The new Government has made a welcome bold statement of its intent to tackle the UK’s anaemic growth at national and regional level. It should now back this with a radical, cross government, long-term industrial strategy which has the need to tackle the UK’s skills crisis at its heart. This mission critical vision should be allied with the local growth strategies and priorities of each region, including infrastructure and innovation, together with other measures to ensure the UK is now fully open for business.
Over the last few years, manufacturers across the regions and nations have faced multiple external shocks and changing policy priorities. They have shown great resilience in overcoming these challenges. There is now an exciting opportunity for the sector to work with the new government on the development of a new long-term industrial strategy. This could help address longstanding skills shortages, boost infrastructure, improve productivity and unlock vital investment to help drive economic growth and prosperity.
