Economists are of the view that 2012 would remain a challenging year for the manufacturing sector as the economy is recovering sluggishly. The manufacturing sector is believed to be moving on a slower pace, opposite to earlier predictions. In the month of February, the manufacturing sector was performing quite well.
However in the month of March, it received a sudden fall. A Senior Economist at EEF, Andrew Johnson said, “The range of current data highlights the volatility affecting manufacturing”. He informed that in the coming times, the sector would continue to hit by uncertainty and weak economy.
In this year, the sector would have to face new challenges. It has been informed that transport equipment, rubber and plastic product industries have contributed majorly in the fall of manufacturing sector. Mining and utilities have also out performed in the manufacturing sector.
The electrical equipment performed quite well in the manufacturing sector. Meanwhile, the Bank of England has said that in the coming time, the economy would experience sluggish recovery. The economists are of the view that in 2013, strong recovery in the manufacturing sector would be witnessed. But in 2012, the scenario is least likely to have a positive change.
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