UK Manufacturers Witness Increasing Competitiveness Against Germany and France

A majority of UK manufacturers now consider Britain a more competitive manufacturing hub, with 52.7% affirming this stance—an increase from 31% the previous year. However, they acknowledge competitive pressures from China and the US.

This insight comes from Make UK and PwC's 2024 survey, released Monday, involving over 200 manufacturing executives.

It reveals that about one-third credit the UK with advancing its competitive stance relative to Germany and France, and they hold a similar view for gaining ground on Spain and Italy.

Post-pandemic recovery and energy crises, manufacturers display optimism for the sector's future, with 44.4% expecting improvements and only 20% foreseeing declines.

"Manufacturers have repeatedly shown resilience," remarked Make UK CEO Stephen Phipson. Emphasizing the sector's endurance, PwC's manufacturing head Cara Haffrey suggests the outlook appears promising despite economic challenges.

Manufacturers are responding positively, investing in innovation, market expansion, and digital tech to enhance operations.

71.2% see digital technology as key to improving efficiency, and over half recognize generative AI's potential to boost productivity.

Phipson highlights a need for sustained improvement underpinned by a long-term industrial strategy.