While the recession was tough for UK manufacturers, a strong rebound in manufacturing output has helped to drive a broader recovery over the past year.
This year’s Innovation Monitor shows that this strong post-recession performance has been due, in part, to manufacturers’ investments in customer-focused innovation.
Manufacturers are growing by focusing on customers in fast growing markets. Two-fifths of firms already sell into five or more major global markets, with our survey showing an increase in firms selling into Asian markets. And firms are already limiting their exposure to the public sector ahead of planned cuts to government spending.
The survey also shows that UK manufacturers are actively looking to benefit from the low-carbon agenda, with over a quarter of firms stating that developing low-carbon technologies was driving innovation.
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