Is the British Economy close to passing its Pre-Crisis Peak?
Optimism among British manufacturers is at its highest since 1973, with factory orders growing at the fastest rate since 1995.
In 2008 and 2009 Gross Domestic Product (GDP) crashed 7.2%, and nearly 5 years later, still remains 1.4% below its peak. However in the first quarter of 2014 The Office for National Statistics said GDP expanded 0.8%, with the Bank of England expecting the second quarter to be only a little weaker, this is up from 0.7% at the end of last year. If this is the case that would make the British economy bigger than it was before the crash, and finally bringing an end to the longest downturn for at least a century.
This would put the size of the economy just 0.6% below its peak of £392.8bn for the first quarter of 2008, with annual growth likely to grow from 2.7% to 3.2%, breaking over the £392.8bn barrier in the second quarter of 2014.
The star of the UK's economic performance is the manufacturing sector, which makes up a tenth of the economy, whose output jumped 1.3% and is growing at an annual rate of 3.4%.
15 Jul 2015
The son of one of the longest standing employees at Fascia Graphics has joined the company as a Trainee Printer. Stuart Morris has worked for Fascia for 21 years and his son Josh Hayward, aged 17, has joined the company full-time after completing a part-time role.
Stuart joined Fascia on the shop...
20 Mar 2012
As the market leaders for the production of membrane keypads and graphic overlays in the printed graphics industry, we are dedicated to continuously improving our products and services. We recently conducted our annual survey across our top 500 customers in...
19 Sep 2014
What do we mean by lean? In manufacturing lean means ‘efficient with no wastage’.
When manufacturers operate ‘lean’ procedures they aim to reduce wastage of materials and time and to increase efficiency.
In a lean manufacturing factory, work flow should be easily identifia...
29 Apr 2015
There is a skills shortage currently facing the manufacturing industry caused by an ageing workforce and difficulties in attracting young workers.
Some of this difficulty is due to outdated and skewed perceptions of a career in manufacturing.
The manufacturing landscape is not the same as i...