The UK manufacturing industry is seeing a rebound in activity in the first quarter of the year as the domestic and global markets have improved, easing fears of a significant recession for industry this year.
This is according to a survey published by Make UK and accountancy and business advisory firm BDO.
The findings in the Make UK/BDO Q1 Manufacturing Outlook survey show a marked pick up on the picture in the final quarter of 2022. The figures echo the gradual improvements in other data such as the UK and European PMIs which are now only just in negative territory, as well as a strong pick up in demand from China.
Most notably, the improvement is being largely driven by strong demand in the electronics and mechanical equipment sectors, with the balance of orders in the electronics sector in particular (+64%) extremely strong.
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.