#ukmfg #madeinthemidlands According to the latest Global Manufacturing Outlook report from professional-services group KPMG, the UK is rather surprisingly ranked ahead of established manufacturing economies such as Japan and Germany in terms of “expected future profit growth”.
KPMG surveyed 335 executives globally and found that companies are increasingly looking to the UK to provide key skills and resources in the supply chain, with the UK being the third most popular destination for increased sourcing, behind the USA and China.
Richard Peberdy, head of diversified industrials at KPMG in the Midlands, said: “The UK’s relatively low Corporate Tax rate and the good IP protection provided by our legal system for businesses trading here are both attractive factors; this can not be said with the same degree of confidence for a number of high-growth economies. In addition, over the past few years, the weak pound has made UK goods relatively cheaper in the global market-place.
“These advantages have contributed to the year-on-year increase in exports since 2009. Despite the challenging conditions faced by our manufacturers, they can be encouraged by global markets increasing their focus on the UK for growth in sales, profit and sourcing.”