Manufacturing to suffer coronavirus hit until 2022

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Industry body Make UK warns manufacturing will not recover from coronavirus crisis until 2022

By Daily Mail City & Finance Reporter

Published: | Updated:

Manufacturing will not recover from the coronavirus crisis until 2022, industry body Make UK has warned. 

The sector could take a hit of up to £36billion this year in a worst-case scenario as investment plunges and demand for many products grinds to a halt. 

On the ropes: The sector could take a hit of up to £36billion this year in a worst-case scenario

Although nine in ten manufacturers have carried on trading during lockdown, on average they are operating at between 25 per cent and 50 per cent of normal levels. 

Car makers have been the worst hit sub-sector, which is likely to see sweeping job and production cuts, while firms making mechanical equipment and plane parts are also struggling. 

The only area where there is likely to be growth this year, according to Make UK’s report with Santander UK, is in pharmaceuticals.

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