New official data has revealed that UK manufacturing output soared to its highest in nearly a decade in the three months to November 2017.
According to figures from the Office for National Statistics (ONS), manufacturing output was up by 3.9 per cent year-on-year during the period.
Astonishingly, output reached its highest since 2008, with the sector’s three-month rolling average reaching 104.9.
Commentators have been keen to point out that in recent years, manufacturers have reaped the benefits of steep falls in the value of sterling following the European Union (EU) referendum and subsequent Brexit negotiations.
Cheaper currency continues to drive export orders, as evidenced by the ONS’ research, which found that overseas demand for British-made products largely remains strong.
Lee Hopley, Chief Economist at manufacturing campaign group EEF, said: “Exports continue to pick up with the pace of growth in goods headed overseas, outpacing the rate at which we’re sucking in imports, enabling us to start chipping away at our sizeable trade deficit.
“Manufacturers were, in the main, in good shape as 2017 came to a close, with the majority of sub-sectors [also] enjoying growth.”
Data reveals that sub-sectors of the manufacturing industry, including the oil and mining sectors, grew by 2.5 per cent year-on-year in November.