A survey published by Make UK showed that the transport and electronic sectors were doing particularly well, reflecting the continued recovery in the aerospace sector with the increase in passenger miles, together with a spate of large orders for new aircraft over the last year.
Air India, for example, announced plans to buy 470 jets from Airbus and Boeing in February amid hot competition from domestic flight provider IndiGo. Airbus makes the wings and fuel systems for its A350 and A320 planes, which were part of the deal, in the UK.
MakeUK said it also recorded strong balances for electronics manufacturers as companies invest in digitalisation and extra capacity to counter labour shortages. The investments are now translating into “consistently strong balances” for the South-East where electronics is the second-largest industrial sector in the region, it said.
However, despite conditions remaining positive, the forecasting suggests a slight contraction...