UK economy to grow faster than European neighbours
The International Monetary Fund (IMF) has sharply increased its growth forecast for the UK economy. It now expects the economy to grow 2.4 per cent this year – faster than any other major European economy – against its previous forecast of 1.9 per cent. In 2015, it expects growth of 2.2 per cent.
Sahar Danesh, Principal Policy Advisor for Manufacturing at the Institution of Engineering and Technology (IET), said: “Growth in manufacturing, at its highest since 2011, reflects the sharp increase in economic growth.”
“This data shows that UK manufacturing's strong upsurge continues and predicted growth in the UK is the highest of all European economies. This sends a strong message to those who claim that manufacturing is on the decline: the UK does indeed ‘still make things’ – and, most importantly, things that are in high demand.
“Sectors such as aerospace and transport are thriving; however, more support and skilled engineers are needed in other sectors to keep the recovery on track.”
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