Manufacturing industry in crisis Why has manufacturing sector plunged into a decline?

Manufacturing assiduity in crisis The manufacturing sector has been in recession since January 2001 with outputs declining calendar month by month. Manufacturing is just about making products from raw materials by eliminate or machinery. There is sometimes confusion about which companies choke to the troubled manufacturing sector or to the renovation industry which halt manufacturers and sometimes even sprung from them . an example of this is TNT which offers a logistics service for manufacturers. Why has manufacturing sector plunged into a decline? With the growth in the international trade and the strong pound, British exports ar more costly than other international goods. This has resulted in a poor discover reducing investment and in that hole it make it difficult to overtake and attract new blood. in addition cheaper labour costs afield have encouraged Companies to turn tail production operations to eastern Europe or Asia. Britain is a rich country- we dont exigency to do repetitive things with our hands, says professor Tim Congdon, fountainhead economist at Lombard Strret research. We should do unique and specialised tasks requiring the riding habit of our brains. The type of manufacturing firms be all the same competing effectively. The main types of manufacturing companies that are competitive are in the aerospace, lofty technology and pharmaceutic industries and also the car production.

The largest is the productionin of food, beverages and tabocca. Future hope for the UK manufacturing firms Confederation of British Industry ( CBI ) expects the ma nufacturing output to increase again by 2003! although at that place is no certainty. Many economists predict in the long term, in that respect will be a shift into more sophisticated manufacturing which is less labour intensive as UK will descend about it increasingly difficult to compete with lower engage in places such as China and India. The CBIs Mr Scott argues that manufacturing underpins the economy by... If you want to pass away a full essay, order it on our website: OrderCustomPaper.com

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