We all know there’s been a catastrophic fall in manufacturing in the UK. Everyone to the left of Attila the Hun has been telling us so for four decades now.
Manufacturing output in the three months to October was 5.7% below its level when the economy nosedived into recession in the first quarter of 2008.
Somewhere around 2006/2008, was when UK manufacturing output was at its, inflation adjusted, peak output.
Myself I tend not to think that 6% off the highest ever is best described as a collapse.