Manufacturing output in the UK surged in March supporting hopes of a sustainable recovery in the industrial sector.
“We are now seeing a broad-based recovery for a sector hard hit by the recession, with robust manufacturing growth suggesting stronger than expected economic growth in the first quarter,” commented Lee Hopley, chief economist at the EEF industry body.
Semiconductor wafer production at companies such as Wales-based IQE contributed to the rise.
"Whilst manufacturing and exports are now providing the foundations for a sustained recovery and a better balanced economy we can’t take this for granted,” added Hopley.
The manufacturing industry will now be hoping for a more stable government with a credible plan to repair the public finances.
“The future of the pound is fundamental to the future ability of UK companies to export, as they must if they are to grow, and therefore strong government attacking our huge national debt problem is urgently required,” Harry Tee, chairman of the Electronics Leadership Council, told EW.
Tee would like to see the new government committing itself to funding the technology development centres recommended by the Hauser Report.
“If UK plc is to successfully exploit our world-leading research commercially, then these centres are absolutely essential and require long-term government support,” said Tee.