Although manufacturing has shrunk as a share of GDP—before the recession it made up around 12% of the economy—Britain remains the world’s sixth biggest manufacturer.
There's a conventional story that Britain "lost" it's manufacturing base, opting instead to become over reliant on financial services. So it's worth remembering that all those lorries on the M25 aren't doing nothing. Indeed manufacturing in the UK has responded better to the recession than in Germany.
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Posted by: MBT Shoes | July 14, 2011 at 11:10 AM