BDO’s Q4 2022 Manufacturing Outlook report, in partnership with Make UK, updates on the activities of UK manufacturers over the past three months as it deals with rising inflation and energy prices, supply chain disruptions and a tight labour market.
Following an optimistic start to 2022, this Q4 research shows UK manufacturers end the year in positive territory for output and total orders, but the signs of an impending recession continue to grow stronger.
- Manufacturing down more than 4% on 2021, with further contraction to come
- Output was flat over the last quarter following back-to-back quarterly slowdowns in activity since the start of this year
- UK orders turn negative for the first time since the pandemic
- Recruitment holds up as the search for talent continues despite the slowdown in activity
- Investment goes negative for first time in nearly two years
- GDP forecast to contract in 2023 by 0.9%.
Download the Q4 report for free to find out what is happening in UK manufacturing.