Industrial production across UK rises

Manufacturers are well-suited to invoice finance facilities such as factoring and invoice discounting

UK industrial production output was better than expected in March, official figures have revealed, with manufacturing output leading the way.

Office of National Statistics (ONS) figures showed an output rise of 0.7% month-to-month rise in March, higher than the expected figure of 0.2%.

Manufacturing, defined in this survey as a sub-section of industrial production, scored a 1.1% increase, with electronics, metals and machinery all said to be performing well.

Lee Hopley, chief economist at the EEF manufacturers' organisation, said: "Manufacturing looks to have had another good month in March with the data pointing to encouraging gains across the board, with almost all sectors posting some growth and on-going strength in transport and electrical equipment sectors."

Richard Cole, Corporate Manager for SBF, commented on the figures: “The UK's manufacturing sector has a bright long-term future, with thousands of jobs set to return from overseas in the coming decades according to the latest surveys”.

“But with new ONS figures also suggesting that the sector is likely to see a sustained recovery in the short term, this is particularly good news for manufacturing firms and their immediate futures”, he concluded.

“Here at Skipton Business Finance, we're proud to support this industry, with many of our clients manufacturers who benefit from the fact their cashflow is secured through their invoice finance facilities”.

If you’d like to find out more about how invoice finance can help increase cashflow, why not give us a call on 01756 694933 or email our team at info@skiptonbf.co.uk