The UK manufacturing sector was 6.6 per cent more productive in Q3 this year than the same period in 2022, analysis of ONS data from FourJaw Manufacturing Analytics has found.
Analysis by FourJaw, an AMRC spin-out that develops machine monitoring software, shows that this productivity boost was worth £9.4bn to UK manufacturers and continued a run of improved manufacturing output and productivity going back to 2021.
The total value of UK manufacturing output in the third quarter of 2023 was £152.4bn. Although this was £9.3bn more than the same period in 2022, it was £2.9bn lower than Q2 2023, representing the first quarter-on-quarter reduction in manufacturing output since the start of 2021.
Accrol Group Holdings plc (LON:ACRL) is the UK’s leading independent tissue converter, producing toilet tissue, kitchen towel, facial tissue and biodegradable wet wipes. The UK soft tissue market is worth £1.6bn with private label products comprising circa 50%. Accrol is the leading supplier to the private label market, which is growing at over 8% year on year.