The EEF has published a report which highlights the important contribution of manufacturing to the UK's economic performance. The first issue of the EEF's Manufacturing Performance report makes interesting reading, showing that manufacturing productivity continues to outpace that of the economy as a whole. It reveals that manufacturing accounts for around 15% of total gross value added, and that manufacturing continues to make a significant contribution to trade -accounting for 54% of total UK exports. Looking at the growth of manufacturing in recent years, the report suggests that output has recovered in 2006 after a weaker performance in 2005. Manufacturing and engineering output were 1.5% and 2.1% higher in 2006q3 compared with a year ago. For the first nine months of 2006, output rose by 1.8%, which outpaced the rest of the UK economy as a whole. Business trends data show output and orders balance in double digits throughout 2006 with exports leading growth.
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