The UK's manufacturing sector performed better than expected in the first half of the year, and growth is expected to outstrip the rest of the economy, according to the EEF. The industry trade body said it forecast growth in manufacturing of 3.8% this year. That compares with 1.1% growth forecast for the economy as a whole. But the EEF warned that spending cuts in the UK and abroad could hurt manufacturers in the long term. "Manufacturing has exceeded expectations so far this year with a broad-based recovery, supported by growth in world trade, a weak pound and restocking," said Lee Hopley, EEF chief economist.
The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).
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