BOOM! British manufacturing is having a far greater impact on the economy than first thought according to a major new report released today.
‘The True Impact of UK Manufacturing’ shows industry is worth £518bn and supports 7.3million UK jobs directly and across the supply chains/communities it operates in.
This represents nearly a quarter of total GDP (23%) and far bigger than the direct contribution of 8.2% that is usually quoted by economists.
Carried out by Oxford Economics and the Manufacturing Technologies Association (MTA), the in-depth report also shows that ‘making things’ accounts for 34.5% of all UK goods and services exports. #UKmfg🇬🇧
🍴 The food industry is facing challenges, from consumer preference changes to #supplychain disruptions.
It's more important than ever for #foodandbeverage companies to have the right #technology implemented to stay ahead.
Find out more: https://t.co/ZGbIxgYYvX #SMLRFID
We had to rework some Chinese imported products in Italy: cost of rework is 60% of the cost of the entire product!
Italian worker: Euro 27.5 /hour
Chinese worker: Euro 5 / hour
Decoupling is impossible. End of the story.
An indicator of U.S. supply chain pressure has fallen to the lowest level in two years, as a sharp drop in transportation costs underscores the slowdown in the nation’s economy heading into the second half of the year: https://t.co/Am5YWGkUcj
More than half of supply chain executives don’t expect a "return to normal" until 2024, and see a number of factors preventing stability — most notably the war in Ukraine (30%) and labor concerns (24%) https://t.co/9rkitg0WKe