UK manufacturing industry sees £48.5bn productivity boost in 2023

The UK manufacturing industry achieved productivity improvements worth £48.5bn in 2023, according to analysis of ONS data by Fourjaw Manufacturing Analytics, a technology company that measures machine productivity.

This represents an 8.6% increase on 2022 levels and includes multi-billion-pound improvements in automotive and food production output.

FourJaw’s analysis, which informs its UK Manufacturing Productivity Index, shows that the total value of UK manufacturing output reached £615bn in 2023. The end of 2023 was particularly strong, with manufacturers reversing a slight summer decline to produce goods worth £155bn in the final quarter.

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.

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