The UK economy expanded by 0.6% in the final quarter of 2016, according to the Office for National Statistics with an increase in output from manufacturing and construction.
Welcoming the statistics, Rain Newton-Smith, CBI Chief Economist, said: “These figures confirm that the economy remained resilient in the wake of the EU referendum, growing 2.0% in 2016.”
Services remain the key driver of growth and a recovery in manufacturing also provided some support.
We welcome the figures as well and believe that digital technology is playing its part to support this growing confidence. IT can help manufacturing companies to take advantage of opportunities by making their processes more efficient.
Call us on 0191 214 1750 or email info@bowe.co.uk to find out how.
Bowe Digital – we make I.T. happen
UK manufacturers are more optimistic about their business situation and exporting prospects, while also reporting strong growth in domestic orders, according to the latest quarterly CBI Industrial Trends Survey.
The survey of 461 manufacturers revealed that domestic orders rose at the fastest pace since July 2014 in the three months to January, while export orders continued to grow but below expectations.
The CBI says that growth is expected to continue strongly over the next three months while production is also expected to advance briskly; expectations for output growth are also the highest since July 2014.
We believe that digital technology is playing its part to support this growth by helping to make companies more competitive. Bowe Digital offers a range of IT solutions that can help manufacturing companies to take advantage.
Call us on 0191 214 1750 or email info@bowe.co.uk to find out how.
Bowe Digital – we make I.T. happen
British firms were each subjected to an average of almost 230,000 cyber attacks in 2016, according to recent analysis from business internet service provider Beaming. The average volume of attacks hitting individual company firewalls passed the 1,000 per day mark for the first time in November. Meanwhile, the Payment Card Industry Security Standards Council has suggested that UK firms could face up to £122 billion in fines for cyber security breaches in 2018. Of that, £52 billion will be levied on small to medium size enterprises, it said. The frustrating thing is that it does not have to be like this because a few simple precautions can keep the hackers out. We can help protect your IT system from the latest cyber threats. Call us on 0191 214 1750 or email info@bowe.co.uk
Bowe Digital – we make I.T. happen