UK manufacturing activity edges higher in January Essay

UK manufacturing activity edges higher in January - Essay Example According to a survey of Purchasing and Supplies Chartered institute at least six hundred industry institutions experienced a flop in the export market in a sequence of at least one year (BBC, 2013). However, this predicament did not hinder potential growth in the domestic demand market where orders for locally manufactured products reached an all time high. Therefore, the improvement in business trading conditions has facilitated a remarkable correspondence to an encouraging start in 2013 for the manufacturing industry (BBC, 2013). In this regard, this essay will delve on the ways in which the UK can command a global market share as compared to other competitors like China. Further, it will focus on how low cost labor influences this trend as the application of low cost labor force has propelled China into being a manufacturing giant. In addition, the essay will zone in which precision products the UK should focus on as how Germany has done. Presentation of issues In the past years, the poor performance of the manufacturing industry had clear indications through the financial markets where they recorded dismal performances. Sequentially, this performance led to the stagnation of industrialization in the UK. However, this trend has experienced a revolution in that the sector has managed to lift the economic aspects of the UK. This means that the export markets for the manufacturing industry in the country have expanded with most of the expansion being in January of 2013. In addition, the European market has also achieved stabilization through the emergence of improved market activities. Moreover, the weakening of the sterling pound has also facilitated the expansion of the European market because this has helped overseas markets to enhance trading (Abbott, 2002:120). Therefore, the most likely occurrence this year is the securing of growth levels for product launches by manufacturers in UK. Subsequently, the new product launches into the European market would p ush for profitable markets outside Europe. In essence, all is positive acquisitions occurred in a period in January 2013, which marked as a positive way of beginning the year for the industry. Presently, the re-emergence of the manufacturing sector has set their goals on being on the worldwide recovery path. Key themes Ideally, the global recession formed the basis for lack of employment for a large part of the UK population (World Of Information, 2003: 394). This predicament influenced a high in the inflation rates because the products on sale came with a high price tag on them. In essence, the recession forced many to lose their posts in their places of work because the profits realized during this time was not sufficient enough to sustain the labor force. During this time, there was the unending search for labor available options because the demand was high, but there was no labor force sufficient to make production in the manufacturing industry. Arguably, global recession brough t about the disparity in the industry because the manufacturers were not able to reach market demands. In addition, the lending rates went up because of inflation as the sterling weakened to relatively low levels. Therefore, the manufacturing industry had to borrow at extremely high lending rates, which they could not manage to repay since their profit levels were insufficient. In this regard, the manufacturing