The British manufacturing sector has once again baffled
experts, exceeding analysts’ expectations and contributing majorly to overall
industrial production, hitting a 3-year high and strengthening widespread faith
in GDP growth for the first quarter of 2014.
Manufacturing grew 1pc in February when compared with
January – experts forecasted growth of 0.3pc – resulting in the 3rd
consecutive monthly increase of the year. Industrial production meanwhile
recorded an increase of 0.9pc compared to previous months. The figures were
released by the Office for National Statistics (ONS).
Chief economist at World First, Jeremy cook, said:
“Industrial production has risen by the most in 8 months in February, backing
up recent sentiment surveys from the manufacturing sector that support thoughts
of strong growth through QI.
“PMIs from the manufacturing sector have shown that employer
intentions have risen well in Q1 with continual improvements in output and
employment leading to continual market confidence. These official output
numbers would suggest that these feelings are being materially backed up.”
UWrap, a provider of shrink wrapping equipment, often
comments on news related to the shrink wrapping and manufacturing sector.
A spokeswoman for the company said: “It seems to be a
regular occurrence now that the manufacturing sector posts growth far beyond
what analysts expect. We’ve seen it a few times already this year and we’re
hopeful that it will continue on into the future.
“As a provider of shrink wrapping machines we’re not only
part of the manufacturing industry but we also count as our customers a large
number of businesses within the manufacturing sector, and the fact that they’re
going well is great news for us.
“We’ve certainly noticed an upwards trend so far this year
as manufacturers have more resources available to purchase, hire or upgrade
their shrink wrapping machines to improve their output and post higher profits.
“And if the purchases and enquiries we’re receiving are
anything to go by then confidence in manufacturing is as high as it’s been in
years!”
UWrap is a prominent figure in the shrink wrapping machine
industry, providing a number of solutions including new and used machines,
machine hire, repair, support and spares delivery. You can learn more about
UWrap, what they do and how they can help you by visiting their website at www.uwrap.co.uk.
Contact Paul Easton for quotes on 01253 300400 or paul@uwrap.co.uk