Measuring Manufacturing: Manufacturing Metrics Review Report, just published by the
"In summary, the
group found that, while manufacturing as currently defined in national and
international statistics is being effectively and reliably reported, there are
substantial opportunities to capture and reflect the influence of manufacturing
activities within the economy more comprehensively.
and that a new Value chain approach "suggests that
jobs associated with manufacturing might number 5.1 million compared with the
2.6 million directly classified to manufacturing using conventional
interpretations."
The graphic below taken from that report, reproduced here courtesy of Open Government Licence v3.0, shows the detail:
The report goes on to state: "it
is worth noting that UK manufacturing has delivered a productivity revolution
showing a 125% increase in labour productivity since 1985"
Feeling a little better now? Part 2 of this blog looks at what the report has to say about Servitization.
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