英国制造商组织&立信：2025年第四季度英国制造业展望报告（英文版）（26页）.pdf

1、MANUFACTURINGOUTLOOKQUARTER 4 2025With support from:and Manufacturing NIIn partnership withManufacturing Outlook Quarter 1 2025Manufacturing Outlook Quarter 4 20252ForewordThe Governments latest budget brought with it a much-needed calm to the industry following a period of uncertainty generated by

2、a merry-go-round of news that seemingly revealed key aspects of the upcoming statement ahead of time.However,quelling the industrys anxiety was not a result of the Budget being better than hoped,but rather it not being as challenging as the markets had feared.This reality mirrors the movement of man

3、ufacturing activity in the second half of this year,as industrial performance has outperformed market expectations according to our latest survey data.In addition,manufacturers own expectations for this quarter were not met,suggesting that more growth should have been achieved.However,we should revi

4、ew the overconfidence of manufacturing businesses through a positive lens here.Despite the rising tax burden and incoming increases in costs,manufacturers are focused on growth.Manufacturers across the UK tell us that their production levels remain strong,though slightly weaker than in the third qua

5、rter of this year.The bulk of this growth arose from the domestic market as order books returned following a temporary scare that shook the automotive sector and any businesses associated with its supply chain.Government intervention alleviated this challenge swiftly,demonstrating how public support

6、 can protect jobs in times of crisis.International trade activity continues to perform as experienced exporters grapple with the impact of US tariffs on bilateral trade relations.However,we are concerned that manufacturers are telling us that export performance will be weaker at the start of the new