Winners and Losers in Manufacturing over the decades
Report Segment: Winners and Losers
Despite the relative decline of manufacturing in the UK compared to other countries, the Technology Strategy Board stresses that manufacturing is still a vital part of the UK economy and as the three graphs below show, manufacturing output has actually grown over the last 30 years , as has productivity. Employment in the sector however, has shrunk as the industry’s efficiency has improved. Looking at individual sub-sectors (Graph 3) one can see a mixed picture of fortunes for the industry.
- Manufacturing output in the UK has actually increased over the last 30 years:
- But improvements to productivity has meant an overall decline in employment – giving the impression of a shrinking industry:
- Within the manufacturing industry, there are ‘winners’ and ‘losers’:
Source for all three graphs: TSB High Value Manufacturing 2008-2011 P.9