TRENDS

Industry will grow more slowly in the UK than anywhere else in Europe over the next five years, according to a recent report. Manufacturing and energy output is set to rise 0.9% per year in the UK, compared to 1.9% in Germany, 2.4% in France and 6.4% in Ireland, says the report by economist Cambridge […]

Industry will grow more slowly in the UK than anywhere else in Europe over the next five years, according to a recent report.

Manufacturing and energy output is set to rise 0.9% per year in the UK, compared to 1.9% in Germany, 2.4% in France and 6.4% in Ireland, says the report by economist Cambridge Econometrics.

Steel, clothing and textiles are likely to be the hardest hit sectors because of the high value of sterling.

The UK is also likely to have the highest rate of manufacturing job losses in Europe, down by an average of 2% per year. South-east England will lose the most manufacturing jobs, but it will benefit from a growth in high value-added service jobs. Northern Ireland will have the lowest drop in manufacturing jobs, followed by East Anglia.

Official statistics show the machine tools sector continuing to suffer, with turnover down for the fifth consecutive month in April. Turnover is now lower than at any time since 1995.

l Price wars are likely to break out in the industrial personal computers market, according to consultant ARC. World shipments of computers will grow at an annual average of 10% over the next five years, ARC says.