SMP Security Solutions Ltd

Steel Crisis Impacts on Manufacturing Economy


Telford, England -- (SBWIRE) -- 06/20/2016 -- The UK manufacturing economy appears to be suffering with the steel crisis being cited as having a huge impact on overall output, which has been in decline for the last 6 months. The latest figures from the Office for National Statistics March report show that the downturn in production was ongoing and could worsen if measures are not taken quickly enough.

The figures which comprise a number of industrial sectors such as mining and sheet metal production work have been largely impacted on by the steel crisis. Manufacturing output declined by 1.9% total between March 2015 and March 2016 and in 12 of the 13 manufacturing sub-sectors, output had decreased in comparison to this time last year. The manufacture of steel and iron has contributed to the overall decline with a 37.3% decrease compared to one year ago.

Large scale industrial production had risen by 0.3% each month but unfortunately was only 0.1% higher than one year ago. The energy sector has pushed an increase of production overall, however it is not enough to stabilise the economy.

A spokesperson for SMP Security commented "We have been closely following developments in the steel crisis which is clearly having a devastating impact on UK manufacture. We produce safes which are made with British steel and as one of the last remaining manufacturers; we sincerely hope action is taken to swiftly secure the future of the UK manufacturing industry."

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