LONDON, July 23 -- British manufacturing has enjoyed good performances over the past 12 months with strong growth driven by devalued sterling and a buoyant global economy, but uncertainties over Brexit and the U.S. trade war are danger points for the coming year, an analysis from EEF, the manufacturers' organization published on Monday showed.
The next year sees the continuation of buoyant growth threatened by the risk of a disorderly Brexit, the emergence of global trade tensions and the relatively weak investment picture caused by Brexit uncertainty.
"We have had a good year of growth reflected in all the regions," EEF chief economist Lee Hopley told Xinhua in an interview.
"The drivers of that growth are the pick-up in the global economy, improvement in commodity prices and an increase in investment around the world -- that means all sectors have had improved output and improved order books."
But Hopley said the strong pick-up in orders and exports had not been matched by a corresponding increase in investment.
"Caution has been the watchword over the past year as we continue to operate with a real lack of clarity about the Brexit end game," she said.
Hopley said that the devaluation of sterling immediately after the Brexit referendum vote in June 2016 had been a boon to some exporters but its effect had waned towards the end of the current 12-month period.
"The devaluation after Brexit has been a benefit for many exporters, not all, but towards the end of the year that benefit has been fading," said Hopley.
By destination, a number of regions have strong exposure to the EU, making them potentially vulnerable to a hard Brexit.
These include Wales, where two thirds of all manufacturing exports go to Europe (60 percent to the EU), the North East (59 percent to the EU), East Midlands (54.9 percent to the EU) and East of England (52.5 percent to the EU).
Hopley said: "Brexit is a key uncertainty. There is varying exposure to EU markets depending where you are in Britain. The impact, from a trade point of view, depends on where you are in the country but Brexit uniformly weighing on investment intentions, and that is a weak point in our survey across all parts of the country in the past year."
Other regions have greater exposure elsewhere, with the North West being the biggest exporter to the Middle East and North Africa, and the West Midlands being the biggest exporter to Asia, Oceania and the U.S..
The uncertainty at the post-2019 trading relationship with the EU is being compounded by rising global trade tensions, with particular concerns for metal manufacturers in the West Midlands and Yorkshire and Humber, as a result of U.S. tariff war.
"There are risks of escalating trade tensions prompted by U.S. actions. The metals industry, especially in Yorkshire and Wales, might be affected. And if the U.S. tariffs hit automotive industries across Europe that will hit the Midlands and the North West of England," said Hopley.
如何拟写GRE作文提纲技巧 ?
写GRE Issue 没思路怎么办?
如何模仿GRE写作范文
增加GRE作文表现力的方法
GRE写作:Issue范文赏析之礼节典礼
论GRE写作提纲的重要性
GRE Issue写作提纲分析
GRE写作六类素材整理
GRE写作范文:实用的意义
GRE写作素材:但丁
GRE写作范文:科学的作用
GRE写作:Issue范文之实践论
GRE写作范文——拯救濒危物种
Issue写作特点及备考建议介绍
新GRE作文逻辑结构是关键
GRE Issue写作范文:技术影响交流
新GRE写作名人素材:哥伦布
不要轻视GRE写作中的普通词汇
GRE issue 内容分类:社会行为类
GRE issue 内容分类:education
为GRE作文考试加分的句子和词汇
GRE issue 7分写作范文(附译文)
GRE写作考试优秀范文积累
浅谈新GRE高分作文的培养
GRE分析性写作可以先撰写提纲
GRE Argument写作范文赏析(2)
GRE备考:Issue思路讲解- 法律的弹性
GRE写作:如何应用实例完成Issue 段落
盘点GRE Issue写作四大误区
复习初期GRE作文备考方向介绍
| 不限 |
| 英语教案 |
| 英语课件 |
| 英语试题 |
| 不限 |
| 不限 |
| 上册 |
| 下册 |
| 不限 |