Midland Pallet Trucks has welcomed news that the British industrial sector has enjoyed its strongest run for 25 years amidst mounting doom and gloom surrounding Brexit.
New figures from the Office for National Statistics have shown that the British industrial sector has once again defied expectations, growing unexpectedly by 0.7% month-on-month in September to record its sixth straight month of growth for the first time in 23 years.
Phil Chesworth, Midland Pallet Trucks Managing Director, said: “This really is brilliant news for everyone working in the industrial sector, as well as the UK as a whole.
“There’s a lot of negativity surrounding Brexit at the moment, and whilst there certainly have been some negative effects on our industries, positive news such as this just highlights the reality that we’re a strong, competitive nation that’s highly productive and therefore attractive to investors.”
Britain’s increased industrial output comes after repeated months of growth during 2017, with a contraction in March of this year being followed by consecutive growth every month since then. This totalled an overall production increase of 2.5% in the 12 months to September, with the impressive figures being mainly driven by robust growth in the production of cars and medical equipment.
As well as defying the odds to with unexpected growth, the UK’s trade gap also shrank by £700 million to £2.75 billion over the same period that the industrial production industry enjoyed its strong September statistics.
Phil added: “What makes these recent figures doubly impressive is the fact that they come off the back of strong overall growth in the industry over the last 12 months, something we’ll hopefully continue to see as we move forward into 2018.”
Midland Pallet Trucks supplies a wide range of manual handling equipment to the industrial production industry, including hand pallet trucks for moving heavy goods and lift tables used to raise vehicles.
For more information about Midland Pallet Trucks, please visit http://www.midlandpallettrucks.com/index.asp