British Manufacturers Report High Profitability and Confidence

Britain’s post-Brexit boom continues as UK manufacturers recorded their second-highest levels of profitability ever. According to the Office for National Statistics, net rates of return for manufacturing companies increased from 13.8% in the third quarter of 2017 to 15.8% in the final quarter, marking the second-highest value to date. On top of this, the latest UK Business Outlook from IHS Markit released this morning shows manufacturers are bullish on growth:

“Growth expectations in the manufacturing sector are the highest for more than two and a half years manufacturers cite the improving global economic backdrop and hopes of increased export sales.”

The net balance of UK manufacturers predicting a rise in output is at +58% in February, up on+54% in October 2017. And they said Brexit would crash Britain’s manufacturing sector…

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