New research by Cranfield University has suggested that the manufacturing sector's contribution to the UK economy is far greater than previously thought – by some £50bn.
According to the methodology used by the University in its new Enhanced Manufacturing Growth Index, manufacturing’s contribution to the UK economy is worth £208 bn – a 3.3% increase compared to the figures usually quoted by the Office for National Statistics (ONS). Researchers at Cranfield argue that the Gross Value Added (GVA) of manufacturing makes…
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