Latest data has revealed positive news for the UK economy, with most sectors showing consistent growth over the last six consecutive months.
The UK hasn’t seen figures like this since the start of 2022 when the country had just come out of lockdown.
According to the Lloyds Bank UK Sector Tracker, eight out of the 14 monitored UK sectors saw output growth last month with food and drink manufacturing reporting the strongest growth in demand and the second fastest increase in output.
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Commenting on the findings, Dave Atkinson, UK Head of Manufacturing, SME & Mid-Corporates, Lloyds Bank, said, “The Tracker’s data suggests that manufacturers are now benefitting from a mix of growing demand and rising output which, if utilised well, will be crucial to maintaining growth going forward.
“Key to this will be effectively managing working capital alongside the availability of cash or finance to make any investments they need to support the growth – whether that’s to hire new staff, increase volumes of raw materials or additional plant within their factories.”
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