Manufacturing in the NorthEast of the country experienced a low in late 2015. Since this slump the market has been trying to recover. However it has been announced that the Manufacturing levels in this area of the country has seen a marked improvement recently. The Regional Manufacturing Outlook that has been published by EEF, the industry organisation has shown that there has been a surge in output from the North East in the second quarter of this year.
The increase that has occurred in the North East of the country means that 14.8% of the regionâs output now comes from the manufacturing industry. The regional Manufacturing Outlook that has been released by the EEF offers the latest ONS figures and a more in depth look into the health on the manufacturing industry in the UK.
The figures also show that the number of manufacturing companies in this is also up by 3.9%. This means that in the NorthEast of the country there are now 4,235 businesses. The employment level in the manufacturing industry has stayed level since 2010, despite this 9.6% of the total workforce in the region is accounted for by the manufacturing industry.
The confidence in this area is has also seen an increase. Just before the Brexit vote, confidence in the manufacturing market sat at 5.9, but this has increased to 6.2. This increase in confidence gives the North East the most improved confidence ratings in the country. This increase in confidence has occurred even though the region relies significantly on the EU and the export market that is provided there. It is good news to see a growth in confidence in this area despite the uncertainty of Brexit as 62% of the Exports from the North East region are sent to Europe.