Manufacturing sector set for slow, steady recovery

Managers are cautiously optimistic about prospects for the UK manufacturing sector, pointing to tentative signs of recovery. The sector has been mired in recession in recent years, despite booming consumer confidence, which has led to the UK being seen as a two-tier economy. From a high point of 3.2% on 30 June 2000, UK year on year manufacturing production growth had fallen to -4.3% at the end of April 2002. However, Alex Tarver, fund analyst at Fidelity, says a strong dollar and low oil price, which has brought down raw material and transport costs, have benefited UK manufactu...