The economic value of the UK’s manufacturing sector is placed at just below 10% of GDP, but this figure is based on outdated counting methods and underestimates manufacturing's worth by potentially half, claims a new Cambridge University report.
Manufacturing’s relatively small contribution to GDP is misleading, according to a new report, with the sector’s share of the economy much higher than the 9% labelled as ‘manufacturing’. In fact, it could be as much as 20%. “It is essential that policymakers have accurate information on the size of manufacturing sectors in order to develop internationally…
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