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Manufacturing investment report 'underlines sector's importance'

Published 26/09/2016

Report authors said the figures were important in the context of Britain's vote to leave the EU
Report authors said the figures were important in the context of Britain's vote to leave the EU

Manufacturing now accounts for 14% of business investment in the UK, highlighting its importance to the economy, a report shows.

Average earnings in the sector are around £31,000, almost £4,000 above the figure for the whole economy, said the EEF manufacturers' organisation.

London and the South East is the biggest manufacturing region, just ahead of the traditional powerhouses of the North West and the Midlands.

The UK is the ninth largest industrial nation, and has outperformed any country except the United States for manufacturing job creation since 2010, said the report.

EEF chief economist Lee Hopley said: "Given the importance of manufacturing to the economy it's vital that we educate all stakeholders about its real value and contribution to growth.

"This is especially important in a post-Brexit world where we have to look at possibly all new avenues of generating growth and investment."

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