In the media | 16 Apr 2024
The Business Magazine: Report reveals ‘True Impact’ of manufacturing is much bigger than thought
In a joint report with the Manufacturing Technologies Association (MTA), we examine how manufacturing impacts the UK economy. Our findings show that ‘making things’ accounts for 34.5 per cent of all UK goods and services exports, whilst the median wage is £31,300 – 11 per cent higher than the national median wage.
Read the full article below:
To explore our latest research, consulting reports and blog posts from our team of experts, on the topics that matter to you, check out Resource Hub – Oxford Economics.
Tags:
You may be interested in
Industry Forecast Highlights: Past rate hikes dampen prospects for industrial production until 2025
We expect global industrial production to grow by 2.6% this year, up from 1.8% in 2023. Our view remains that value-added industrial production bottomed out last year and is on course for a gradual recovery.
Find Out MoreJapan’s industry nearing the trough, with high tech leading the way
Our new proprietary business cycle phase indicator points to a trough in sight for industry, but with dispersion among sectors. High tech is leading the pack with output firmly on its way up. While most other sectors have yet to reach a cyclical trough, we believe they are now closing in.
Find Out MoreClaims of deindustrialisation in Europe are overblown
Our forecasts do not show any significant deindustrialisation over the next decades in Europe. However, Europe indeed faces substantial challenges that will impact low-skilled, upstream, energy-intensive and easily tradable sectors.
Find Out MoreSix lessons from the US-China trade war as the next phase looms
We estimate that a 1ppt rise in US tariffs cuts imports from China by 2.5% in the long term.
Find Out More